C H A P T E R 6 The Normal Distribution Objectives Outline After completing this chapter‚ you should be able to 1 2 3 Identify distributions as symmetric or skewed. 4 Find probabilities for a normally distributed variable by transforming it into a standard normal variable. Introduction 6–1 Normal Distributions Identify the properties of a normal distribution. Find the area under the standard normal distribution‚ given various z values. 5 Find
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Lecture 1. Descriptive statistics includes statistical procedures that we use to describe the population we are studying. The data could be collected from either a sample or a population‚ but the results help us organize and describe data. Descriptive statistics can only be used to describe the group that is being studying. That is‚ the results cannot be generalized to any larger group. Inferential statistics is concerned with making predictions or inferences about a population from observations
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Week 4 Homework Solutions: Problem Set 4 1. Determining Profit or Loss from an Investment. Three years ago‚ you purchased 150 shares of IBM stock for $88 a share. Today‚ you sold your IBM stock for $103 a share. For this problem‚ ignore commissions that would be charged to buy and sell your IBM shares. a. What is the amount of profit you earned on each share of IBM stock? The profit on each share of IBM stock was $15. $103 priced when each share was sold‚ $88 priced when each
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Economics 500 – Problem Set #3 Consider a firm producing an output Q using the two inputs “labor” (L) and “capital” (K) according to the production function Q = K.5L.5 (i.e.‚ the amount of output produced Q is equal to the square root of K times the square root of L). Suppose that the firm is in a short-run situation in which K is fixed at one unit (K = 1) but labor is variable. Suppose that the user cost of capital‚ r‚ is $48 for each unit of K and that the wage rate‚ w‚ the cost of one unit
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Econ 214 Problem Set 4 1. What determines whether a financial asset is included in the M1 money supply? Why are interest-earning checkable deposits included in M1‚ whereas interest-earning savings accounts and Treasury bills are not? A financial assest is included in the M1 money supply when it can be quickly converted into the physical form of money‚ such as dollars and coins. Interested-earning checkable deposits are included because it can be quickly accessible without limitations
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Problem Set 1 Complete all questions listed below. Clearly label your answers. 1. The receipts and year of release of the five movies with the largest nominal box office revenues‚ along with the CPI data of each year are presented below. Assuming that the receipts for each of the movies were derived during their year of release‚ convert the receipts for each to real dollars for the year 2010 (2010 CPI 218.1). Put the movies in order from largest to smallest real box office receipts. Movies
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AP Statistics Exam Review Topic I: Describing Data [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] FREE RESPONSE Use the given data set of test grades from a college statistics class for this question. 85 72 64 65 98 78 75 76 82 80 61 92 72 58 65 74 92 85 74 76 77 77 62 68 68 54 62 76 73 85 88 91 99 82 80 74 76 77 70 60 A. Construct two different graphs of these data B. Calculate the five-number summary and the mean and standard deviation of the data. C. Describe
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Each loan has a 5% probability of default‚ in which case the bank is not repaid anything. The chance of default is independent across all the loans. Bank B has only one loan of $100 million outstanding‚ which it also expects will be repaid today. It also has a 5% probability of not being repaid. Explain the difference between the type of risk each bank faces. Which bank faces less risk? Why? The expected payoffs are the same‚ but bank A is less risky. (See solution to Problem 10–21 for full explanation
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Homework Problem Set 4 1. Because Q=12-2P inverse demand P = -0.5 Q+6 For “half price” case‚ P = 2.5‚ Q=7 consumer surplus = 7*(6-2.5)/2 = 12.25 For “buy one‚ get one free” case‚ when original P = 5‚ Q = 4 instead of 2‚ total benefit TB = (4+6)*4/2 = 20 On the other hand‚ payment is 2*5=10 dollars‚ so consumer surplus will be = 10 Thus “half price” gives more surplus. 2. cost minimizing manner‚ marginal product of typewriter/marginal product of word processor=rent of typewriter/rent
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2.0 Hypothesis Psalm 82 is a difficult psalm to understand to its full extent. However‚ the main message is to defend those who are weak‚ needy‚ poor‚ have no families or are oppressed and to save them from the hand of the wicked. This theme is still relevant in today’s society as those affected by the hand of the wicked continue to need assistance from those with a voice. 3.0 Researched Interpretations 3.1 Literary form/Genre The psalms are songs and poems which are publicly worshiped and are specifically
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