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weeeeeb [17]
3 years ago
6

A business executive, transferred from Chicago to Atlanta, needs to sell her house in Chicago quickly. From conversations with h

er realtor, the executive believes the price she will get by leaving the house on the market for another month is uniformly distributed between $204,000 and $233,000. If she leaves the house on the market for another month, what will be the standard deviation of the price she will get
Mathematics
1 answer:
Oksi-84 [34.3K]3 years ago
8 0

Answer:

The standard deviation of the price she will get is $8,371.58.

Step-by-step explanation:

An uniform probability is a case of probability in which each outcome is equally as likely.

For this situation, we have a lower limit of the distribution that we call a and an upper limit that we call b.

The variance of the uniform distribution is given by:

V = \frac{(b-a)^{2}}{12}

The standard deviation is the square root of the variance.

Uniformly distributed between $204,000 and $233,000

This means that a = 204000, b = 233000

So

V = \frac{(b-a)^{2}}{12} = \frac{(233000 - 204000)^{2}}{12} = 70,083,333.33

The standard deviation is the square root of the variance. So

S = \sqrt{70,083,333.33} = 8,371.58

The standard deviation of the price she will get is $8,371.58.

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For a binomial process, the probability of success is 40 percent and the number of trials is 5. Find the standard deviation.
Yakvenalex [24]

Answer:

Sd(X) =\sqrt{1.2}=1.095

Step-by-step explanation:

Previous concepts

The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".

Solution to the problem

Let X the random variable of interest, on this case we now that:

X \sim Binom(n=5, p=0.4)

The probability mass function for the Binomial distribution is given as:

P(X)=(nCx)(p)^x (1-p)^{n-x}

Where (nCx) means combinatory and it's given by this formula:

nCx=\frac{n!}{(n-x)! x!}

The mean for the binomial distribution is given by:

E(X) =np=5*0.4=2

And the variance is given by:

Var(X) = np(1-p) =5*0.4*(1-0.4)=1.2

And the deviation is just the square root of the variance so we got:

Sd(X) =\sqrt{1.2}=1.095

7 0
3 years ago
Solve: (⅓) x – 13 &gt; 14<br> A) x &lt; 81 <br> B) x &gt; 81<br> C) x &gt; 9 <br> D) x &lt; 9
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Answer:

Y = 5x -4

Step-by-step explanation:

You literally just plug the numbers into the equation below:

y = mx + b.

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