C) Your parents have been advised to save 5% of their income for your college education
2 answers:
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Answer:
The 90th percentile for the distribution of the total contributions is $6,342,525.
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 normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
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 and standard deviation
, the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean
and standard deviation
.
For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.
For sums of size n, the mean is and the standard deviation is
In this question:
The 90th percentile for the distribution of the total contributions
This is X when Z has a pvalue of 0.9. So it is X when Z = 1.28. Then
By the Central Limit Theorem
The 90th percentile for the distribution of the total contributions is $6,342,525.
Answer:
Remember, if B is a set, R is a relation in B and a is related with b (aRb or (a,b))
1. R is reflexive if for each element a∈B, aRa.
2. R is symmetric if satisfies that if aRb then bRa.
3. R is transitive if satisfies that if aRb and bRc then aRc.
Then, our set B is .
a) We need to find a relation R reflexive and transitive that contain the relation
Then, we need:
1. That 1R1, 2R2, 3R3, 4R4 to the relation be reflexive and,
2. Observe that
- 1R4 and 4R1, then 1 must be related with itself.
- 4R1 and 1R4, then 4 must be related with itself.
- 4R1 and 1R2, then 4 must be related with 2.
Therefore is the smallest relation containing the relation R1.
b) We need a new relation symmetric and transitive, then
- since 1R2, then 2 must be related with 1.
- since 1R4, 4 must be related with 1.
and the analysis for be transitive is the same that we did in a).
Observe that
- 1R2 and 2R1, then 1 must be related with itself.
- 4R1 and 1R4, then 4 must be related with itself.
- 2R1 and 1R4, then 2 must be related with 4.
- 4R1 and 1R2, then 4 must be related with 2.
- 2R4 and 4R2, then 2 must be related with itself
Therefore, the smallest relation containing R1 that is symmetric and transitive is
c) We need a new relation reflexive, symmetric and transitive containing R1.
For be reflexive
- 1 must be related with 1,
- 2 must be related with 2,
- 3 must be related with 3,
- 4 must be related with 4
For be symmetric
- since 1R2, 2 must be related with 1,
- since 1R4, 4 must be related with 1.
For be transitive
- Since 4R1 and 1R2, 4 must be related with 2,
- since 2R1 and 1R4, 2 must be related with 4.
Then, the smallest relation reflexive, symmetric and transitive containing R1 is