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Verizon [17]
3 years ago
9

Sales prices of baseball cards from the 1960s are known to possess a right skewed distribution with a mean sale price of $5.25 a

nd a standard deviation of $2.80. Supppose a random sample of 100 cards from the 1960s is selected. Describe the sampling distribution of the sample mean sale price of the selected cards
a. Right skewed with mean of $5.25 and a standard error of $2.80
b. Normal with a mean of $5.25 and a standard error of $0.28
c. Right skewed with a mean of $5.25 and a standard error of $0.28
d. Normal with a mean of $5.25 and a standard error of $2.80
Business
1 answer:
VMariaS [17]3 years ago
7 0

Answer:

option  b is correct

Normal with a mean of $5.25 and a standard error of $0.28

Explanation:

Given data

mean = $5.25

standard deviation SD = $2.80

sample n = 100

to find out

sampling distribution

solution

we will find here first mean error that is

standard error = SD/ √n

put here value n and SD

standard error = 2.80 /√100

standard error = 0.28

and we know here that by central limit theorem that is state that sample distribution of sample mean is approximate normally distribute with Standard error and mean so

mean with normal is 5.25

Hence

option  b is correct here

Normal with a mean of $5.25 and a standard error of $0.28

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Last month you assumed the position of manager for a large car dealership. The distinguishing feature of this dealership is its
ELEN [110]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

8 0
3 years ago
Provide an example of economic regulations that a government might put into place and why
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The Government regulates the sale and research of prescription drugs in order to promote safety and fair practices in the healthcare industry.

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3 years ago
Which of the following provides for a reduction in the employer's state unemployment tax rate based on the employer's experience
statuscvo [17]

Answer:

b.Experience-rating plan

Explanation:

Experience rating is a method of evaluating used by insurance providers to adjust premiums up or down. The rating reflects your previous loss experience. It is based on the presumption that your historical loss experience predicts your future loss experience. In other words, your future losses are likely to be similar to those you incurred in the past. The Experience Rating Plan is mandatory for all eligible insureds. Any action taken in any form to evade the application of an experience modification determined in accordance with this Plan is prohibited.  The object of the Experience Rating Plan is to recognize the differences between individual insureds through the use of the individual insured's own loss experience. The experience rating process serves as a means of using a history of past losses to predict the future losses of an insured.

This is done by comparing the experience of an individual insured to the average insured in the same classification. Therefore, using the insured's past experience, the experience modification is determined by comparing the actual losses to expected losses.   An insured with better than average experience will produce a credit experience modification factor, while an insured with worse than average experience will produce a debit experience modification factor.  A credit experience modification factor, less than 1.00, results in a premium reduction. A debit experience modification factor, greater than 1.00, results in a premium increase. An experience modification factor of 1.00, or unity, does not change premium.

6 0
3 years ago
Bob bought some land costing $16,390. today, that same land is valued at $46,817. How long has bob owned this land if the price
faltersainse [42]

Bob has to own his land for 18 years if the price is increasing at the rate of 6% per year.

Given that land was bought by Bob for $16390, the price is increasing at the rate of 6%, price of land today is $46817.

We are required to find the time for which Bob need to own the land so that the price of the land is $46817 today.

Compounding means calculating amount on the principal and the amount added interest.

Rate of increasing the price of land be 6%.

Price when Bob bought the land=$16390.

Price of land today=$46817.

It is like compounding of interest and the sum is calculated as under:

S=P*(1+r)^{n}

In the above equation P is theamount at beginning,r is rate of increasing and n is the number of years.

46817=16390(1+0.06)^{n}

46817/16390=(1.06)^{n}

(1.06)^{n}=2.8564

(1.06)^{n}=(1.06)^{18}  (Approximately)

From both the sides we will get n=18.

Hence Bob has to own his land for 18 years if the price is increasing at the rate of 6% per year.

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4 0
1 year ago
Up in Smoke Tobacco Shops' bond carries a 9 percent coupon, pays interest semiannually, and has 10 years to maturity. What is th
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Answer:

10%

Explanation:

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10% yearly interest rate = 5% semiannual interest rate

we must determine the PV of the 20 coupons paid and the face value at maturity.

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the PV of the face value in 10 years = $1,000 / 1.05²⁰ = $376.89

the present value of the coupons and the bond at maturity = $560.80 + $376.89 = $937.69. The PV using a 5% semiannual rate is very similar to $937.75, and since the question asked us to round up to the nearest whole percent, we can assume it is correct.

6 0
3 years ago
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