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Economics and Finance
Some of the variables that affect the monthly payment of a new-car loan are the total amount borrowed, the interest rate, and the length of the loan. During the fourth quarter of 2012, the mean length of a new-car loan was 65 months, a record high according to Experian.28 Suppose the length of a new-car loan is approximately normal with standard deviation nine months.
a. What is the probability that a new-car loan is for at most 48 months?
b. What is the probability that a new-car loan length is between 50 and 70 months?
c. Find a symmetrical interval about the mean such that 95% of all new-car loan lengths fall in this interval.
d. Suppose the amount borrowed on a new-car loan is also approximately normal with mean $20,000 and standard deviation $5000. If the length of the loan and the amount borrowed are independent, what is the probability that the loan will be for more than $27,000 and for less than 60 months?
Calculate a 95% upper confidence bound on the mean. Compare this bound with the upper bound of the two-sided confidence interval and discuss why they are different.
The following data set represents the amount spent (in dollars) by 45 shoppers at a supermarket. Construct a frequency distribution for the variable, and also report the relative frequencies for each class in your frequency distribution. NOTE: the..
The 99% confidence interval estimate for a population variance when a sample standard deviation of 12 is obtained from a sample of 10 items is:
westco is a well established company with thousands of employees and they want to estimate the average age of their
On the basis of these results, do you think retailers and consumers have a right to complain to the manufacturers? Why?
a recent study focused on the amount of money single men and women saved monthly. the information is summarized below.
Exchange ("the big board") and five stocks listed on NASDAQ. At the .10 significance level, can we conclude that the annual rates of return are higher on the big board?
Find the equation of the regression line to predict course grades from placement test scores.
A student's final exam grade depends on how close the student sits to the center of the classroom during lectures. If a student sits r feet from the center of the room, the grade is a Gaussian random variable with expected value 80 - r and standar..
the fico credit rating scores obtained in a simple random sample are listed below. as writing the reported mean fico
Store A has signed a revenue-sharing contract with a movie studio for DVDs. Each DVD costs the studio $2 to produce, and will be sold to Store A for $5. Store A in turn prices a DVD at $15 and forecasts demand to be normally distributed with mean 5,0..
An economic analysis of the livelihood factors influencing rural household participation in extraction of forest products(Please formulate a questionnaire)
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