The mean monthly mortgage paid by all home owners in a town is $2365 with a standard

Question:

The mean monthly mortgage paid by all home owners in a town is $2365 with a standard deviation of $340.
a. Using Chebyshev’s theorem, find at least what percentage of all home owners in this town pay a monthly mortgage of
i. $1685 to $3045

ii. $1345 to $3385

b. Using Chebyshev’s theorem, find the interval that contains the monthly mortgage payments of at least 84% of all home owners in this town.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Introductory Statistics

ISBN: 9780470904107

8th Edition

Authors: Prem S. Mann

See More Books

Question Posted: Aug 25, 2015 07:39 AM

See More Questions

The equilibrium rent in a town is $500 per month and the equilibrium number of apartments is 100. The city now passes a rent control law that sets the maximum rent at $400. The diagram below...
The mean monthly rent of students at Oxnard University is $775 with a standard deviation of $200. How high would the rent have to be to qualify as an outlier
For a sample with a standard deviation of s = 10, a score of X = 65 corresponds to z = 1.50. What is the sample mean?
The Federal Reserve may raise its benchmark interest rate later this month. How is this achieved? Why would they do this? Explain the consequences fully. (Include graphs with your answer)
Youve just put in a bid for a large communications network. According to your best information you figure there is a 35% chance that your competitors will outbid you. If they do outbid you, you...
Pump, Inc. Acquiring management accounting data on real companies can be a challenge because this information is generally highly proprietary and of significant competitive value. The cost data below...
For the same relationship, practice empathy. What do you think is driving the other persons behavior? What motivates him or her to act in certain ways? What emotions is he or she expressing?(p. 93)
The amount of denim used daily by the Southwest Apparel Company in its manufacturing process to make jeans is normally distributed with an average of 4000 yards of denim and a standard deviation of...
Multiple Choice $4,600 $8,540 $3,940 $4,430 $4,110
Would you expect NiO to have the cesium chloride, sodium chloride, or zinc blende structure? Based on your answer, determine (a) The lattice parameter; (b) The density; and (c) The packing factor.
According to the National Center for Education Statistics (www.nces.ed.gov), the amounts of all loans, including Federal Parent PLUS loans, granted to students during the 20072008 academic year had a...
The mean life of a certain brand of auto batteries is 44 months with a standard deviation of 3 months. Assume that the lives of all auto batteries of this brand have a bell-shaped distribution. Using...
The file Utility contains the following data about the cost of electricity during July 2014 for a random sample of 50 one-bedroom apartments in a large city: a. Construct a histogram and a percentage...
Show that the scalar $K$, which, according to Eq. (5.366), is constructed from the extrinsic curvature as $K=g^{\mu v} K_{\mu u}$, is equal to the covariant divergence of the normal vector field,...
An aircraft is in flight, and its $\mathrm{TAS}=220 \mathrm{~m} / \mathrm{s}$. The ambient temperature is $T=253 \mathrm{~K}$. What is the stagnation temperature on its leading edge?
A diver's watch resists an absolute pressure of 5.5 bar. At an ocean having density of $1025 \mathrm{~kg} / \mathrm{m}^{3}$ and exposing an atmospheric pressure of $1 \mathrm{bar}$, what depth...
Estimate TAS if an aircraft is at ALT $=9500 \mathrm{~m}$ and its Mach number $M$ is 0.5 .
The Mach number of an aircraft is $M=0.9$, and the local temperature is $T=-10^{\circ} \mathrm{C}$. What is its airspeed?
Let the system comprising the atoms and wall in Figure 19.25 be isolated. (a) What is the direction of the atom's change in momentum? (b) What is the direction of the change in momentum of the wall?...
Distinguish among total-moisture content, free-moisture content, equilibrium-moisture content, unbound moisture, and bound moisture.
As a statistics lecturer I am interested in the factors that determine whether a student will do well on a statistics course. Imagine I took 25 students and looked at their grades for my statistics...
A hamburger chain sells large hamburgers. When we take a sample of 30 hamburgers and weigh them, we find that the mean is 0.51 pounds and the standard deviation is 0.2 pound. a. State how you would...
A fast-food chain sells drinks that they call HUGE. When we take a sample of 25 drinks and weigh them, we find that the mean is 36.3 ounces with a standard deviation of 1.5 ounces. a. State how you...
A random sample of 25 mens resting pulse rates shows a mean of 72 beats per minute and a standard deviation of 13. a. Find a 95% confidence interval for the population mean pulse rate for men, and...
explain in excel please For a particular product the price per unit is $6. Calculate Revenue if sales in current period is 200 units. Conduct a data analysis, on revenue by changing the number of...
Hall Company sells merchandise with a one-year warranty. In the current year, sales consist of 35,000 units. It is estimated that warranty repairs will average $10 per unit sold and 30% of the...
Q 4- Crane Corporation, an amusement park, is considering a capital investment in a new exhibit. The exhibit would cost $ 167,270 and have an estimated useful life of 7 years. It can be sold for $...

The mean monthly mortgage paid by all home owners in a town is $2365 with a standard

Question:

Step by Step Answer:

a i Each of the two values is 680 from 2365 Hence k 680340 2 and Thus at least 75 of ...View the full answer

Introductory Statistics

Students also viewed these Statistics questions