1

# Statistical methods in economics and business

## Question

###### Statistical methods in economics and business
1. Given that X is a normally distributed random variable with a mean of 50 and a standard deviation of 2, the probability that X is between 48 and 52 is

a)     Approximately 68%

b)     Approximately 95%

c)     Approximately 99%

d)     Can’t tell without the z-table.

2.     A lab orders 100 rats a week for each of the 52 weeks in the year for experiments that the lab conducts. Suppose the mean cost of rats used in lab experiments turned out to be $13.00 per week. Interpret this value. a) Most of the weeks resulted in rat costs of$13.00.

b)        The median cost for the distribution of rat costs is $13.00. c) The expected or average cost for all weekly rat purchases is$13.00.

##### Find Pr[2 5B(15,.1) <3] . That is, if X is a binomial random variable counting successes...
Find Pr[2 5B(15,.1) <3] . That is, if X is a binomial random variable counting successes on n=15 Bernoulli trials with p=.1, find the probability that x is between 2 and 3, inclusive. O A.0.3954 O B. 0.1286 O c.1.7604 O d. 0.4383 O E.0.1714...
##### Your physician has asked that transcribe a letter that she has dictated to Dr Percy R...
your physician has asked that transcribe a letter that she has dictated to Dr Percy R Zatts for patients Bobby Jonson. she would like you to format the letter using modified block style with mixed punctuation...
##### Record Number: 80-50-77 Age: 77 Gender: Female Length of Stay: 5 Days Service Type: Inpatient Discharge...
Record Number: 80-50-77 Age: 77 Gender: Female Length of Stay: 5 Days Service Type: Inpatient Discharge Status: To Home Health Diagnosis/Procedure: Peritrochanteric Right Hip Fracture Mild Hypertension Total Right Hip Arthroplasty DISCHARGE SUMMARY PATIENT: JOY INPATIENT RECORD NUMBER: 80-50-77 AD...
##### In a particular year, 68% of online courses taught at a system of community colleges were...
In a particular year, 68% of online courses taught at a system of community colleges were taught by full-time faculty. To test if 68% also represents a particular state's percent for full-time faculty teaching the online classes, a particular community college from that state was randomly select...
##### Problem 2. (15 pts) Design the circuit by finding the transfer function and all appropriate R...
Problem 2. (15 pts) Design the circuit by finding the transfer function and all appropriate R and L values to make the natural frequency 8 rad/sec and the damping ratio 0.75 if C-0.01F a 2 Vi R....
##### MB V. (12 pts) Some measured X-ray energies in an element are AE(Ka)= 20.00keV and AE(KB)=25.00...
MB V. (12 pts) Some measured X-ray energies in an element are AE(Ka)= 20.00keV and AE(KB)=25.00 keV. The binding energy of the K electron in the element is E(K)=26.00keV. From these data, find: (a) the energy of the La X ray, and M No (N shell) 3 La M series (Mshell) = 2 (L shell) L series (b) the b...
##### The trajectory of two particles are represented by x² + y2 = 100 x=y-15 Using a...
The trajectory of two particles are represented by x² + y2 = 100 x=y-15 Using a Simulink model, determine if these two particles will ever intersect. If the two particles intersect, determine the point of intersection....
##### Consider the following statements. (i) Spring/mass systems and Series Circuit systems we covered are examples of...
Consider the following statements. (i) Spring/mass systems and Series Circuit systems we covered are examples of linear dynamical systems in which each mathematical model is a second-order constant coefficient ODE along with initial conditions at a specific time. (ii) The following is an exampl...