Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The average price of a college math textbook is $153 and the standard deviation is $28. Suppose that 50 textbooks are randomly chosen. Round all

The average price of a college math textbook is $153 and the standard deviation is $28. Suppose that 50 textbooks are randomly chosen. Round all answers to 4 decimal places where possible.

  1. What is the distribution ofX?X~ N(,)
  2. For the group of 50, find the probability that the average price is between $148 and $154.
  3. Find the first quartile for the average textbook price for this sample size. $(round to the nearest cent)
  4. For part b), is the assumption that the distribution is normal necessary?No Yes

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus Early Transcendentals

Authors: James Stewart, Daniel K. Clegg, Saleem Watson, Lothar Redlin

9th Edition

1337613924, 978-1337613927

More Books

Students also viewed these Mathematics questions

Question

1. Define and formulate some basic valuation models.

Answered: 1 week ago