1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Snowcat [4.5K]
3 years ago
6

A marine sales dealer Önds that the average price of a previously owned boat is $6492. He decides to sell boats that will appeal

to the middle 66% of the market in terms of price. Find the maximum and minimum prices of the boats the dealer will sell. The standard deviation is $1025, and the variable is normally distributed.
Mathematics
1 answer:
Anuta_ua [19.1K]3 years ago
4 0

Answer:

The maximum price that the dealer will sell is $7471 and the minimum is $5513.

Step-by-step explanation:

Problems of normally distributed samples are solved using the z-score formula.

In a set with mean \mu and standard deviation \sigma, the zscore of a measure X is given by:

Z = \frac{X - \mu}{\sigma}

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

In this problem, we have that:

\mu = 6492, \sigma = 1025

Middle 66%

50 - (66/2)  = 17th percentile

50 + (66/2) = 83rd percentile

17th percentile

X when Z has a pvalue of 0.17. So X when Z = -0.955.

Z = \frac{X - \mu}{\sigma}

-0.955 = \frac{X - 6492}{1025}

X - 6492 = -0.955*1025

X = 5513

83rd percentile

X when Z has a pvalue of 0.83. So X when Z = 0.955.

Z = \frac{X - \mu}{\sigma}

0.955 = \frac{X - 6492}{1025}

X - 6492 = 0.955*1025

X = 7471

The maximum price that the dealer will sell is $7471 and the minimum is $5513.

You might be interested in
Change the precent into a fraction in its sinplest form:15%
den301095 [7]

what i got it would be 15/100

7 0
3 years ago
Read 2 more answers
A 3 pound pork loin can be cut into 10 pork chops of equal weight. How many ounces is each pork chop?
ozzi
Each pork chop weighs 4.8 ounces
7 0
3 years ago
Read 2 more answers
Which point is 8 units away from ( 7, 5 ) ?
Ivan

Answer:

C ( 7, -3 )

Step-by-step explanation:

Question:

which point is 8 units away from ( 7, 5 ) ?

Choices:

A : (0,-3 )B (15,13) C ( 7, -3 ) D ( 1, 5 )

Solution:

(7, 5) and (7, 3) have the same x-coordinate, 7.

They are both on a vertical line that passes through point (7, 0).

(7, 5) is 5 units above the x-axis.

(7, -3) is 3 units below the x-axis.

5 + 3 = 8

(7, 5) and (7, 3) are 8 units apart.

Answer: C ( 7, -3 )

4 0
3 years ago
Round 62,971 to the nearest thousand
maks197457 [2]

Answer:

60,000

Step-by-step explanation:

you get your 6 and see if the 2 is over 5 if not keep 6 and the others are 0

4 0
3 years ago
Read 2 more answers
A bus is traveling at a constant speed. If the bus travels 15 1 2 15 1 2 miles in 1 3 1 3 of an hour, how many miles will the bu
fiasKO [112]

Answer:

46 1/2 miles

Step-by-step explanation:

Given that:

Bus traveled at a constant speed ;

Miles traveled = 15 1/2 miles

Time taken for the travel = 1/3 of an hour

Number of miles bus will travel in 1 hours :

Let number of miles traveled in 1 hour = n

15 1/2 miles = 1/3 hour

n miles = 1 hour

Cross multiply :

1/3 * n = 15 1/2 * 1

1/3n = 31/2

Divide both sides by 1/3

n = 31/2 ÷ 1/3

n = 31/2 * 3/ 1

n = 93/2

n = 46.5 miles = 46 1/2 miles

3 0
3 years ago
Other questions:
  • Farmer Bob's son built a track to walk his pet pig. The
    5·1 answer
  • When do you get an answer to a system of linear equations that has one solution, no solution and infinitely many solutions?
    9·1 answer
  • Which set of fractions is ordered from least to greatest? 2/6,1/4,4/10 1/4,2/6,4/10 4/10,2/6,/14 or 1/4,4/10,2/6
    14·1 answer
  • Plzzzzz
    11·1 answer
  • If x=3+2root2,find the value of xsquare+1/xsquare​
    5·1 answer
  • A set of input and output values, such that each input has one or more outputs, is called a
    9·1 answer
  • John works as a tutor for an hour and as a waiter for an hour. This month, he worked a combined total of hours at his two jobs.
    5·1 answer
  • Your friend says that V169 is 13. Another
    8·2 answers
  • Find the Value of X!!! Geometry!! Pls helppp!! I will mark brainlest. Thank you!! :)
    14·1 answer
  • 3. What is the measure of angle B from the right triangle below?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!