Answer:
(a) = 40%
(b) = 28%
(c) Expected value = $222,500
Standard deviation = $7,216.88
Step-by-step explanation:
This is a normal distribution with a = 210,000 and b =235,000
(a) The probability that he will get at least $225,000 for the house is:
(b)The probability he will get less than $217,000 is:
(c) The expected value (E) and the standard deviation (S) are:
Answer:
For this case we want to test if the mean number of filled overnight beds is over 523. If X represent our random variable "number of filled overnight beds", the system of hypothesis are:
Null Hypothesis:
Alternative hypothesis:
And for this case after conduct the test is FAIL to reject the null hypothesis. So then we can conclude that the claim that the number of filled overnight beds is over 523 is not statistically supported
Step-by-step explanation:
Previous concepts
A hypothesis is defined as "a speculation or theory based on insufficient evidence that lends itself to further testing and experimentation. With further testing, a hypothesis can usually be proven true or false".
The null hypothesis is defined as "a hypothesis that says there is no statistical significance between the two variables in the hypothesis. It is the hypothesis that the researcher is trying to disprove".
The alternative hypothesis is "just the inverse, or opposite, of the null hypothesis. It is the hypothesis that researcher is trying to prove".
Solution to the problem
For this case we want to test if the mean number of filled overnight beds is over 523. If X represent our random variable "number of filled overnight beds", the system of hypothesis are:
Null Hypothesis:
Alternative hypothesis:
And for this case after conduct the test is FAIL to reject the null hypothesis. So then we can conclude that the claim that the number of filled overnight beds is over 523 is not statistically supported