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avanturin [10]
3 years ago
6

Please, help me on this question, guys! I know the answer for (a) so I'll write down, too. For (b) I tried "$89,000 because that

is the price with the biggest unusual z-score" but I got that this part is incorrect because I needed to use the mean and standard deviation that I calculated along with z=2 to determine the threshold higher price. That got me lost.
Question: Consider the following prices for a sample of 10 Congo-imported black diamonds: $34,550; $45,500; $75,000; $33,000; $89,000; $40,000; $55,000, $62,500; $88,000; $81,750.

(a) Calculate mean and standard deviation for the above list of prices. Answer: Mean is 60,430 and Std Dev is 21,958.0813.

(b) What is the higher price you will pay for a Congo-imported diamond based on the sample from above? Explain your rationale for that.
Mathematics
1 answer:
Alexeev081 [22]3 years ago
7 0
Let x be a random variable representing the price of a Congo-imported black diamond. Let the higher price be p. Then,
P(x < p) = P(x < (p - mean)/sd) = P(x < (p - 60,430)/21,958.08) = P(z < 2)
Therefore,
(p - 60,430)/21,958.08 = 2
p - 60,430 = 2 x 21,958.08 = 43,916.16
p = 34,916.16 + 60,430 = 104.346.16

Therefore, The required price is $104,346.16
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A line containing the points (9, 1) and (5, 5) intersects the x -axis at what point?
Troyanec [42]

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Step-by-step explanation:

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4 0
3 years ago
<img src="https://tex.z-dn.net/?f=2x%20-%206%20%3D%205y%20-%203x" id="TexFormula1" title="2x - 6 = 5y - 3x" alt="2x - 6 = 5y - 3
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The sum of the digits of a two-digit number is 5. If the number is multiplied by 3, the result is 42. Write and solve a system o
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A two digit number has a tens digit and a ones digit.
Let's say x = tens digit and y = ones digit

"The sum of the digits is 5"
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The next phrase is "the number multiplied by 3 is 42" but we need to represent the number using the digits. So they need to be multiplied first by their place value and added together. [Example: 34 = 3(10) + 4(1)]

The number is: 10x + y
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The system of equations: (two equations for two unknowns)
x + y = 5
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Then you can use substitution or elimination to combine and solve.
I'll use elimination, multiply the entire top equation by -3 and add the equations together. y will cancel out

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then plug x = 1 into either equation to find y

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remember the x and y represent digits so the number xy is 14
6 0
3 years ago
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