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11Alexandr11
1 month ago
11

(a) Suppose one house from the city will be selected at random. Use the histogram to estimate the probability that the selected

house is valued at less than $500,000. Show your work.
(b) Suppose a random sample of 40 houses are selected from the city. Estimate the probability that the mean value of the 40 houses is less than $500,000. Show your work.

Mathematics
1 answer:
zzz [12K]1 month ago
8 0

Answer:

a.    0.71

b.    0.9863

Step-by-step explanation:

a. Analyzing the histogram shows that the frequency of houses valued under 500,000 is 0.34 and 0.37.

Therefore, the probability is calculated as follows:

P(500000)=P(x=0)+P(x=500)\\\\\\\\=0.34+0.37\\\\\\\\=0.71

This means that the likelihood of a house being valued at less than 500,000 is 0.71.

b.

-Based on the information given, we find the mean to be 403 and the standard deviation to be 278. To determine the probability that the mean price for a sample of 40 houses is below 500,000, we can use the following method:

P(\bar X

Consequently, the probability that the average value of 40 randomly selected homes is under 500,000 is 0.9863.

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Answer:

A sum of $12,000 should be allocated at an interest rate of 5.25%, while $13,000 should be put in at 4%.

Step-by-step explanation:

Recall that

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I=P(rt)

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Plugging these into the formula:

I=P_1(r_1t)+P_2(r_2t)

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0.0125x=150

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What is the concentration of a new solution obtained by mixing 25ml of water with 125ml of a 20% salt solution in water?
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