Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The average price of an ABC Operating system was $120.25, according to online data. Assume that the prices of the ABC Operating system were normally

image text in transcribed
image text in transcribed
The average price of an ABC Operating system was $120.25, according to online data. Assume that the prices of the ABC Operating system were normally distributed with a standard deviation of $12.65. a) If a retailer of computer software was randomly selected, what is the probability that the price of an ABC Operating system was between $115.00 and $124.50? b) Suppose 99.58% of the prices of an ABC Operating system were more than $105.75. Based on this percentage, what is the standard deviation of the prices of an ABC Operating system? c) This part has no link to part a) to b). The wholesale price of an ABC Operating system ranges from $140.00 to $149.50. Assume these prices are uniformly distributed. If a price is randomly selected, what is the probability that it will be more than $145.50? (1) Which one of the following statements is not true? Statement 1: The height of the function for a uniform probability density function x) is the same for various values of the random variable X. Statement 2: Since there is an innite number of values a continuous random variable can assume, the probability of each individual value is virtually 0.5 Statement 3: Given that Z is a standard normal random variable, the mean of Z is always equal to zero. Statement 4: Probability for continuous random variables is found by nding the area under a curve

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

Step: 3

blur-text-image

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

Financial and Managerial Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

11th Edition

9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895

Students also viewed these Mathematics questions

Question

10. What is meant by a feed rate?

Answered: 1 week ago