CNNBC recently reported that the mean annual cost of auto insurance is 965 dollars. Assume the standard deviation is 113 dollars. You will use a simple random sample of 57 auto insurance policies.Find the probability that a single randomly selected policy has a mean value between 939.6 and 972.5 dollars.P(939.6 < X < 972.5)

Answers

Answer 1

Answer:

P(939.6 < X < 972.5) = 0.6469

Step-by-step explanation:

To solve this question, we need to understand the normal probability distribution and the central limit theorem.

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

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

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

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.

Central Limit Theorem

The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean [tex]\mu[/tex] and standard deviation [tex]s = \frac{\sigma}{\sqrt{n}}[/tex].

For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.

CNNBC recently reported that the mean annual cost of auto insurance is 965 dollars. Assume the standard deviation is 113 dollars.

This means that [tex]\mu = 965, \sigma = 113[/tex]

Sample of 57:

This means that [tex]n = 57, s = \frac{113}{\sqrt{57}} = 14.97[/tex]

Find the probability that a single randomly selected policy has a mean value between 939.6 and 972.5 dollars.

This is the pvalue of Z when X = 972.5 subtracted by the pvalue of Z when X = 939.6. So

X = 972.5

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

By the Central Limit Theorem

[tex]Z = \frac{X - \mu}{s}[/tex]

[tex]Z = \frac{972.5 - 965}{14.97}[/tex]

[tex]Z = 0.5[/tex]

[tex]Z = 0.5[/tex] has a pvalue of 0.6915

X = 939.6

[tex]Z = \frac{X - \mu}{s}[/tex]

[tex]Z = \frac{939.6 - 965}{14.97}[/tex]

[tex]Z = -1.7[/tex]

[tex]Z = -1.7[/tex] has a pvalue of 0.0446

0.6915 - 0.0446 = 0.6469

So

P(939.6 < X < 972.5) = 0.6469


Related Questions

The 6th grade yearbook committee pays $15.00 for each yearbook and $19.95 shipping fee for the entire order. What formula represents the amount of money the committee will pay for any order? Let n = number of yearbooks and c=cost of the order.

Answers

Answer:

The good kind

Step-by-step explanation:

Yes

Answer:

15n+19.95=c

Step-by-step explanation:

15 per yearbook plus 19.95 equals the total cost

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Step-by-step explanation:

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Step-by-step explanation:

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If you were to deposit $1,000 into an account that paid 10 percent interest compounded semiannually, how much money would you have in the account one year from now?

Answers

Semiannual means there will be two total periods in a year. Divide ten percent by two to get the interest rate per period. Then multiple by 1+i twice

Two eights of the championship football game tickets sold for under $30. One eighth of the tickets sold for more than $100. What fraction of the tickets sold for an amount between $30 and $100?

Answers

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Step-by-step explanation:

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HELP ME!!!! PLZ!!!!

The determinants of the minors of the first-row entries are _____ .
11, -20, 23
11, -16, 26
13, -20, 23
13, -16, 26
The determinants of the minors of the second-row entries are______ .
-21, 5, -24
-21, 7, -28
-18, 7, -28
-18, 5, -24
The determinants of the minors of the third-row entries are_______ .
4, 9, -14
4, 8, -12
6, 8, -12
6, 9, -14

Answers

Answer:

The picture below. (11, -20, 23) , (-21, 5, -24),  (6,9,-14)

$$ \sqrt{6\frac{1}{4}} $$

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Chu gf fr uvv V dhh gg jb cub

A1 kg object is located at a distance of 6.4 x10^6 m from the center of a larger object whose mass is 6.0 x 10^24 kg. Find the gravitational attraction between them. *
O 11 N
O 8 N
9.8 N
O 6.8 N​

Answers

Answer:its 11n

Step-by-step explanation:

Simple divide all

The gravitational attraction between the two objects as described is; 9.77N

The force of gravitational attraction according to Newton's law of gravitation can be expressed mathematically as;

F = G m1m2/r²

where F = force of attractionG = gravitational constant = 6.67 × 10-¹¹ m3 kg-¹ s-²m1 and m2 = mass of the objects respectivelyr = their distance apart.

F = (6.67 × 10-¹¹ × 1 × 6.0 x 10²⁴)/(6.4 x 10⁶)²

F = 9.77 N

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Answers

Answer:

-48

Step-by-step explanation:

-4x4x(-3x2+9)=-48

Answer:

12x^7−36x^5

Step-by-step explanation:

differentiate y=log7(x^5+x)

Answers

Answer:

Step-by-step explanation:

Does log7(x^5+x) mean log₇(x⁵+x) ?

Kristin has 3 2/3 yards of plaid ribbon. She has 2 5/6 yards of polka-dot ribbon.

How many yards does she have total?

Answers

Answer:

7 1/2

Step-by-step explanation:

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Eight bricks are laid end to end along the edge of a flower bed. Each brick is inches long. How long is the row of bricks, in inches?

Answers

Eight bricks are laid end to end along the edge of a flower bed.

Each brick is 11/2 inches long. How long is the row of bricks, in inches?

11/2 inches

A average row of bricks is 7-1/2 inches

11/2  x 7-1/2 = 38

38 inches

Answer:

1.5 times 8 equals 12. The row of bricks is 12 inches long

1) (35 + 17) + 43 = 35+ (17 + 43)

Answers

Answer:

95?

Step-by-step explanation:

In a population of 2000 students, 230 are left-handed. A random sample of size
50 is selected and the number of left-handed students is recorded. If we
collected many more samples, which of the following could describe the
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Answers

11.5% is the correct answer

P + 1/4 (is greater than or equal to) 2

Answers

Answer:

P + 1/4 (is greater than or equal to) 2

p<or =2-1/4=7/4

The population of the UK is 64 million compared to the world's population of 7 billion (7000 million).

Write this proportion as a percentage, correct to 1 decimal place.

Answers

Answer:

0.009%

Step-by-step explanation:

64/7000*100=0.009142857%

The proportion of population in UK to the world population is 64 : 7000 or

0.9 %

What is Proportion?

The proportion formula is used to depict if two ratios or fractions are equal. The proportion formula can be given as a: b::c : d = a/b = c/d where a and d are the extreme terms and b and c are the mean terms.

Given data ,

Let the value of population in UK be = 64 milliom

Let the value of world population be = 7 billion

Now ,

The value of 1 billion = 1000 million

So , the value of 7 billion = 7 x 1000 million

The value of 7 billion = 7000 million

Now , the value of world population is = 7000 million

So , the proportion of population of UK to the world population is given by = value of population in UK : value of world population

And , the equation will be

The proportion of population of UK to the world population is = 64 : 7000

The proportion of population of UK to the world population is = 0.00914

The proportion of population of UK to the world population is = 0.9 %

Hence , The proportion of population in UK to the world population is

64 : 7000 or 0.9 %

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Answers

400% is because 125 divided by 500 is 400

Answer:

400

Step-by-step explanation:

Solution for 500 is what percent of 125:

500:125*100 =  

(500*100):125 =  

50000:125 = 400  

Now we have: 500 is what percent of 125 = 400  

Question: 500 is what percent of 125?  

Percentage solution with steps:  

Step 1: We make the assumption that 125 is 100% since it is our output value.  

Step 2: We next represent the value we seek with [tex]x%[/tex].  

Step 3: From step 1, it follows that $100%=125$.

Step 4: In the same vein, $x%=500$.

Step 5: This gives us a pair of simple equations:

100%=125(1)

x%=500(2)

Step 6: By simply dividing equation 1 by equation 2 and taking note of the fact that both the LHS

(left-hand side) of both equations have the same unit (%); we have

[tex]\frac{100\%}{x\%}=\frac{125}{500}[/tex]

Step 7: Taking the inverse (or reciprocal) of both sides yields

[tex]\frac{x\%}{100\%}=\frac{500}{125}[/tex]

[tex]\Rightarrow x=400\%[/tex]

Therefore, 500 is 400% of 125

Hope this answer helps and answers your question! Have a great day/night!

A horse has a water barrel in which 3/10 of a gallon is drank out of it every day. How many days will it take the horse to drink 42 gallons of water?

Answers

Answer:

140 days

Step-by-step explanation:

140 days


Explanation:

3/10 x 42 would be 40 then times it by 100 to get 140, hope this helps :)


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Answers

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Step-by-step explanation:

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Answers

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Answers

Answer:

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Step-by-step explanation:

Variables:  C (Carlos) and L (Lily)

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12(C + L)+35

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Answers

Answer:

Step-by-step explanation:

rise/increase/grow

Answer:

Step-by-step explanation:

The key word is increase.

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Phew. Try reading that sentence a couple of times. It's right, but there should be an easier way to say it.

What is the equation for the line of reflection?
ФУ
4
B
B
A
A'
2
D
с
C
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Х
2
6
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27

Answers

Answer:

what

Step-by-step explanation:

1 A lawnmower that regularly sells for $200 is on sale for $85. Find the % of change that the price was decreased by ??? percent. Round to the nearest whole percent.

Answers

Answer:

The price changed by 92.5 %

Step-by-step explanation:

The regular price of lawn mover = 200 dollars

The new selling price = 85 dollars

Change in selling price = 200 -85 dollars = 115 dollars

% change == [tex]\frac{185}{200} * 100 = 92.5[/tex]

The price changed by 92.5 %

what is the relationship between a magnets magnetic force and magnetic field?​

Answers

Answer: They both use a magnetic pull?

Step-by-step explanation:

What is 4 + 200039393939

Answers

Answer:

200039393943

Step-by-step explanation:

Use a calculator (;

A={0 ; 4 ; 1 supra 3 ; -5 ; 0,(4) ; -2 ; 8 supra 4}
a) A ( U intors ) N ( multimea numerelor naturale )
b) A ( U intors ) Z
c) A / Z
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Answers

A? I don’t understand

suppose you have 8 pairs of pants, 8 shirts and 7 pairs of shoes how many different outfits can you wear assuming you take one of each?

Answers

Answer:

Step-by-step explanation:

8(8)7=448 different outfit combinations

help me with this please it's important pleaseeeeeeeeeeeeeeeeee frindes

Answers

Answer:

27-64

Step-by-step explanation:

cheating in tests are bad, searching for answers in tests is also bad

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Answers

Answer:

Assuming that "x" symbol indicates multiplication, the answer should be 4/3. If you need the decimal form, it would be 1.3. If you want the mixed number form, it'd be 1 1/3.

Step-by-step explanation:

4/5x 1 2/3

4/5 in decimal is 0.8

12/3 in decimal is 4

0.8 multiplied by 4 is 3.2

Therefore 4/5 x 12/3 = 3.2

 

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