WORTH 20 POINTS NEED ASAP

A consensus forecast is the average of a large number of individual analysts' forecasts. Suppose the individual forecasts for a

zaharov [31]

Answer:

a) $P(X>3.5)=P(\frac{X-\mu}{\sigma}>\frac{3.5-\mu}{\sigma})=P(Z>\frac{3.5-5}{1.2})=P(z>-1.25)$

And we can find this probability using the complement rule:

$P(z>-1.25)=1-P(z$

b) $P(X$

And we can find this probability uing the normal standard table:

$P(z$

c) $P(3.5$

And we can find this probability with this difference:

$P(-1.25$

And in order to find these probabilities we can use tables for the normal standard distribution, excel or a calculator.

$P(-1.25$

Step-by-step explanation:

Previous concepts

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".

Part a

Let X the random variable that represent the variable of interest of a population, and for this case we know the distribution for X is given by:

$X \sim N(5,1.2)$

Where $\mu=5$ and $\sigma=1.2$

We are interested on this probability

$P(X>3.5)$

And the best way to solve this problem is using the normal standard distribution and the z score given by:

$z=\frac{x-\mu}{\sigma}$

If we apply this formula to our probability we got this:

$P(X>3.5)=P(\frac{X-\mu}{\sigma}>\frac{3.5-\mu}{\sigma})=P(Z>\frac{3.5-5}{1.2})=P(z>-1.25)$

And we can find this probability using the complement rule:

$P(z>-1.25)=1-P(z$

Part b

We are interested on this probability

$P(X$

And the best way to solve this problem is using the normal standard distribution and the z score given by:

$z=\frac{x-\mu}{\sigma}$

If we apply this formula to our probability we got this:

$P(X$

And we can find this probability uing the normal standard table:

$P(z$

Part c

$P(3.5$

And we can find this probability with this difference:

$P(-1.25$

And in order to find these probabilities we can use tables for the normal standard distribution, excel or a calculator.

$P(-1.25$

3 0

3 years ago

Jamal has $15.00 to spend at the concession stand. He buys nachos for $7.50, and he wants to purchase some sour straws for $1.50

GalinKa [24]

Answer:

x = 5

$15.00 is the total amount of money Jamal has right? To find the remaining amount of money Jamal has subtract 15 - 7.5 (price of nachos) = 7.5 (remaining amount of money Jamal has.) Now for part 2, since the sour straws are $1.50 each you just have to multiply X to get close as close to the remaining amount of money as possible.

1.50× 5 (amount of sour straws) is equal to 7.50 (price of 5 sour straws).

To check your answer let's add the price of nachos (7.50) and 5 sour straws (7.50) which is 15.00 the total amount Jamal brought with him.

Let me know if you have any other questions :)

4 0

3 years ago

Read 2 more answers

How do u simplify 5/4 as fraction

mafiozo [28]

Make it a mixed number 1 1/4

8 0

3 years ago

Read 2 more answers