Answer:
X ~ N(27, 4) ;
xbar ~ N(27, 0.1026) ;
0.5 ;
0.5
Step-by-step explanation:
Probability distribution of X : N(μ, σ²)
μ = 27 ; σ = 2
X ~ N(μ, σ²) = X ~ N(27, 2²) ;X ~ N(27, 4)
Distribution is approximately normal ; μ = xbar ; xbar = 27
(Standard Error)² = (σ/√n)²= (2/√39)² = 0.1026
xbar ~ N(μ, σ²) = xbar ~ N(27, 2²) ; xbar ~ N(27, 0.1026)
Probability that a randomly selected individual found a job in less than 27 weeks :
P(X < 27) :
Obtain the Zscore :
Z = (x - μ) / σ
Z = (27 - 27) / 2 = 0/2
Z = 0
P(Z < 0) = 0.5
D.) n = 36
P(X < 27) :
Obtain the Zscore :
Z = (x - μ) / σ/√n
Z = (27 - 27) / (2/√36) = 0/0.33333
Z = 0
P(Z < 0) = 0.5
As a result of such situation, you have reduced your net worth. Before selling the car, your net worth is $12,000-$7,000=$5,000. After selling the car and paying off the loan, it’s $2,000. As you can see it reduced $3,000. Hope this answers the question. Have a nice day.
