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7nadin3 [17]
3 years ago
15

Suppose a random sample of n = 16 observations is selected from a population that is normally distributed with mean equal to 101

and standard deviation equal to 12.
(a) Give the mean and the standard deviation of the sampling distribution of the sample mean x(with a line above). (Enter your standard deviation to two decimal places.)

mean =

standard deviation =

(b) Find the probability that x(line above it) exceeds 107. (Round your answer to four decimal places.)

Answer:

(c) Find the probability that the sample mean deviates from the population mean μ = 101 by no more than 4. (Round your answer to four decimal places.)
Mathematics
1 answer:
stepan [7]3 years ago
6 0

Answer:

101, 3, 0.025, 0.7416

Step-by-step explanation:

Given that  a random sample of n = 16 observations is selected from a population that is normally distributed with mean equal to 101 and standard deviation equal to 12.

As per central limit theorem we have

a) Mean of sample mean = E(\bar x) =\\ \mu =101

Std deviation of sample mean = \frac{\sigma}{\sqrt{n} } =3

Mean = 101

Std dev =3.00

b) P(\bar x >107) = P(Z>\frac{107-101}{3} )\\= P(Z>2) = 0.025

c) the probability that the sample mean deviates from the population mean μ = 101 by no more than 4.

=P(|\bar x-101|) \leq 4\\= P(|z|\leq 1.13)\\= 2(0.3708)\\=0.7416

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Compound interest can be defined as the interest <em>on a deposited amount, an investment</em> that is <em>compounded based on its principal and interest rate.</em>

It will take about 3.239 years for the principal amount of $13,000 to double its initial value.

From the above question, we can deduce that we are to find the time "t"

The formula to find the time "t" in compound interest is given as:

t = ln(A/P) / r

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R = Interest rate = 21.4%

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From the question, the Amount "A" is said to be the double of the principla.

Hence,

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r = R/100

r = 21.4/100

r = 0.214 per year.

  • Step 2: Solve the equation for t

t = ln(A/P) / r

t = ln(26,000.00/13,000.00) / 0.214

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Therefore, it will take about 3.239 years for the principal amount of $13,000 to double its initial value.

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