The winning bids at an art auction were $250, $170, $225, $185, $160, $250,$995, and $215. What was the median winning bid.
1 answer:
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Answer:
From the given options we can say the correct answer is d.) 6.3
Step-by-step explanation:
The waiting times at the bank are given to be normally distributed.
The mean of the waiting time is given as = 3.7 minutes
The given standard deviation is = 1.4 minutes
It is required to find the waiting time at the 97th percentile.
So we are required to find the time which can be said to be the waiting time which occurs with 97 % probability.
Let the time required be designated as y.
Therefore we can write p(X < y) = 0.97 (where 0.97 means the 97th percentile)
This is a left tailed test.
Using the formula from MSEXCEL to find y we get
y = NORMINV(0.97, 3.7, 1.4) = 6.333.
The other approach would to find the Z value corresponding to the probability value from the Z Table
The Z value for a probability of 0.97 gives us Z = 1.881 .
Therefore . Therefore y = (1.881 × 1.4) + 3.7 = 6.33
Therefore from the given options we can say the correct answer is d.) 6.3
The point-slope form:
We have
Therefore
<h3>slope = -3 and the point (-2, 6)</h3>------------
<h3>y + 2 = 2(x - 1)</h3>2x - y = 4 <em>it's standard form Ax + By = C</em>
y = 2x - 4 <em>it's slope-intercept form y = mx + b</em>
y - x = 4 →<em> </em>x - y = -4 <em>t's standard form Ax + By = C</em>