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A five-year old study claims that selling prices of new homes / condominiums in the New York area have a normal distribution with mean = $180,000 and standard deviation = $40,000.
a. Assuming that the results of the study are still valid, what is the probability that a randomly selected new house in the New York area will cost more than $210,000?
b. A new couple decides to settle in this area. They are willing to pay between $160,000 and $190,000 for a new home. What is the probability that they will find a new house to purchase in the New York area that satisfies their price range?
c. What is price below which the 10% of the lowest priced new homes in the New York area are sold?
What sample size and acceptable level would result in a probability of .05 that a good batch will be rejected and a probability of .10 that a bad batch will be accepted?
A stock price is currently $100. Over each of the next two three-month periods it is expected to increase by 10% or fall by 10%. Consider a six-month European call option with a strike price of $105.
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Assume that the length X in minutes of a regular season NBA game is normally Distributed with X~N (µ X , σ 2 X );
Find the probability that a random selection of 9 songs will have mean length of 186.30 seconds or less. Assume distribution of the lengths of the songs is normal.
In studying the performance of the comapany's stock investments over the past year, the research manager of a mutual fund company finds that only 43% of the stocks returned more than the rate that had been expected at the beginning of the year.
The owner of a local golf course wanted to determine the average age of the golfers that played on the course. In a random sample of 30 golfers that visited his course, the sample mean was 48.34 and the standard deviation was 9.327. Calculate a 90..
If the board wants to set the passing score so that only the best 80% of all applicants pass, what is the passing score? Assume that the scores are normally distributed. Round to the nearest whole number.
because only two of the seven regression coefficients are statistically significant. Yet in some initial trials the expanded model is giving more precise sales predictions than the smaller model. The reasons for this anomaly are now being investig..
A company adminsters an "aptitude test for managers" to aid in selecting new management trainees. Prior experience suggests that 60 percent of all applicants for management trainee positions would be successful if they were hired.
Explain how the marketing analyst can use independent samples to collect the data.
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