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dangina [55]
4 years ago
11

A survey collects demographic, socioeconomic, dietary, and health-related information on an annual basis. Here is a sample of 20

observations on HDL cholesterol level (mg/dl) obtained from the survey (HDL is good cholesterol: the higher ts value, the lower the risk for heart disease) 35 49 51 54 65 51 52 47 87 37 46 33 39 44 39 64 94 34 30 48 (a) Calculate a point estimate of the population mean HDL cholesterol level (b) Making no assumptions about the shape of the population distribution, calculate a point estimate of the value that separates the largest 50% of HDL levels from the smallest 50%. (c) Calculate a point estimate of the population standard deviation. (Round your answer to three decimal places.) (b) An HDL level of at least 60 is considered desirable as it corresponds to a significantly lower risk of heart disease. Making no assumptions about the shape of the population distribution, estimate the proportion p of the population having an HDL level of at least 60. Need Help? Talk to a Tutor
Mathematics
1 answer:
BaLLatris [955]4 years ago
3 0

Answer:

Step-by-step explanation:

35 49 51 54 65 51 52 47 87 37 46 33 39 44 39 64 94 34 30 48

is the sample given

From the above we can find

Mean =sum of all observations /20

= \frac{999}{20} =49.95

Variance = \frac{1}{20} [\Sigma_1^{20} (x_i-49.95)^2 ]\\=269.7475

Std deviation= square root of variance

= 16.424

Population estimate for mean = 49.95

Population estimate for std dev =\frac{s}{\sqrt{n} } \\=\frac{16,.424}{\sqrt{20} }

=3.673

The value that separate 50% top form 50% bottom is the median

Median is the middle value after arranging in ascending order

=average of 47 and 48 = 47.5

Proportion of atleast 60 = 2/20 = 0.1

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a) 0.0885 = 8.85% probability that the mean annual return on common stocks over the next 40 years will exceed 13%.

b) 0.4129 = 41.29% probability that the mean return will be less than 8%

Step-by-step explanation:

To solve this question, we need to understand the normal probability distribution and the central limit theorem.

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean \mu and standard deviation \sigma, the z-score of a measure X is given by:

Z = \frac{X - \mu}{\sigma}

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Central Limit Theorem

The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean \mu and standard deviation \sigma, the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean \mu and standard deviation s = \frac{\sigma}{\sqrt{n}}.

For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.

Mean 8.7% and standard deviation 20.2%.

This means that \mu = 8.7, \sigma = 20.2

40 years:

This means that n = 40, s = \frac{20.2}{\sqrt{40}}

(a) What is the probability (assuming that the past pattern of variation continues) that the mean annual return on common stocks over the next 40 years will exceed 13%?

This is 1 subtracted by the pvalue of Z when X = 13. So

Z = \frac{X - \mu}{\sigma}

By the Central Limit Theorem

Z = \frac{X - \mu}{s}

Z = \frac{13 - 8.7}{\frac{20.2}{\sqrt{40}}}

Z = 1.35

Z = 1.35 has a pvalue of 0.9115

1 - 0.9115 = 0.0885

0.0885 = 8.85% probability that the mean annual return on common stocks over the next 40 years will exceed 13%.

(b) What is the probability that the mean return will be less than 8%?

This is the pvalue of Z when X = 8. So

Z = \frac{X - \mu}{s}

Z = \frac{8 - 8.7}{\frac{20.2}{\sqrt{40}}}

Z = -0.22

Z = -0.22 has a pvalue of 0.4129

0.4129 = 41.29% probability that the mean return will be less than 8%

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