The mean monthly mortgage paid by all home owners in a city is 1230$ with a standard...
The mean monthly mortgage paid by all home owners in a city is 1230$ with a standard deviation of 130$ .
Using Chebyshev's theorem, find the interval, {L,U} , that contains monthly mortgage payments of at least 60% of all homeowners.
Round your answers to two decimal places.
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The mean monthly mortgage paid by all home owners in a city is
1230$ with a standard...
The average monthly mortgage payment for all homeowners in a city follows a normal distribution with...
The average monthly mortgage payment for all homeowners in a city follows a normal distribution with a mean of $2850 and a standard deviation of $420. Find the probability that the monthly mortgage paid by a randomly selected homeowner from this city is: less than $2100 more than $2600 between $3200 and $3700
5. A bank manager wants to know the mean amount of mortgage paid per month by...
5. A bank manager wants to know the mean amount of mortgage paid per month by homeowners in an area. A random sample of 120 homeowners selected from this area showed that they pay an average of $1875 per month for their mortgages. The population standard deviation of such mortgages is $245. Find a 97% confidence interval for the mean amount of mortgage paid per month by all homeowners in this area.
Please show all your work, write equations clearly, plug in values properly, and comment on all...
Please show all your work, write equations clearly, plug in
values properly, and comment on all steps.
The one-way commuting times from home to work for all employees working at a large company have a mean of 37 minutes and a standard deviation of 8 minutes a. Using Chebyshev's theorem, find the minimum percentage of employees at this company who have one-way commuting times in the interval 17 to 57 minutes b. Using Chebyshev's theorem, find the interval that contains...
Exercise 8-7 Algo In order to estimate the mean 30-year fixed mortgage rate for a home...
Exercise 8-7 Algo In order to estimate the mean 30-year fixed mortgage rate for a home loan in the United States, a random sample of 15 recent loans is taken. The average calculated from this sample is 7.85%. It can be assumed that 30-year fixed mortgage rates are normally distributed with a standard deviation of 0.6%. Compute 90% and 95% confidence intervals for the population mean 30-year fixed mortgage rate. Use Table 1. (Round intermediate calculations to 4 decimal places....
Suppose Canadian home-owners owe an average of $190,000 on their mortgages. Assume that mortgage debt is...
Suppose Canadian home-owners owe an average of $190,000 on their mortgages. Assume that mortgage debt is normally distributed in Canada with a standard deviation of $96,000. Standard Normal Distribution Table a. Albertans are reported to owe $241,300 in mortgage debt, much higher than the Canadian average. What is the probability of randomly selecting a Canadian with mortgage debt that exceeds $241,300? Round to four decimal places if necessary b. What is the probability of randomly selecting a Canadian with mortgage...
The mean monthly out-of-pocket cost of prescription drugs for all senior citizens in a city is...
The mean monthly out-of-pocket cost of prescription drugs for all senior citizens in a city is $410 with a standard deviation of $81. Let x¯ be the mean of such costs for a random sample of 100 senior citizens from this city. Find the mean and standard deviation of the sampling distribution of x¯.
2 Based on the confidence that the population standard deviation of mortgage rates is greater than...
2 Based on the confidence that the population standard deviation
of mortgage rates is greater than 0.7
olo Mortgage rates: Following are interest rates (annual percentage rates) for a 30-year fixed rate mortgage from a sample of lenders in Macon, Georgia, on June 20, 2013. Assume that the population is approximately normal. 4.286 4.325 4.134 4.581 4.908 4.429 4.689 3.319 4.84 4.568 4.847 4.996 Send data to Excel Part 1 of 3 (a) Find the sample standard deviation s. Round...
Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price...
Estimate the affordable monthly mortgage payment, the affordable
mortgage amount, and the affordable home purchase price for the
following situation. (Refer to Exhibit 9-8 and Exhibit 9-9)
(Round time value factor to 2 decimal places, intermediate
and final answers to the nearest whole dollar.)
Monthly gross income
$
4,700
Down payment to be made (percent of purchase
price)
20
percent
Other debt (monthly payment)
$
260
Monthly estimate for property taxes and
insurance
$
490
30-year loan
8.5...
Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price...
Estimate the affordable monthly mortgage payment, the affordable
mortgage amount, and the affordable home purchase price for the
following situation. (Refer to Exhibit 9-8 and Exhibit 9-9) (Round
time value factor to 2 decimal places, intermediate and final
answers to the nearest whole number.)
Monthly gross income
$
3,450
Down payment to be made (percent of purchase price)
20
Percent
Other debt (monthly payment)
$
220
Monthly estimate for property taxes and insurance
$
280
30-year loan
7.0
Percent
Affordable...
7 A car manufacturer is interested in estimating the true mean fuel consumption in real-world city...
7
A car manufacturer is interested in estimating the true mean fuel consumption in real-world city driving for one of its new models. 10 new randomly selected cars are driven for a tank, and it is found that the sample mean fuel consumption is 9.4 l/100k, with a sample standard deviation of s = 0.343. Suppose the manufacturer wishes to construct a confidence interval for mu, the true mean fuel consumption for this model under these conditions. a) What is...
5. A bank manager wants to know the mean amount of mortgage paid per month by homeowners in an area. A random sample of 120 homeowners selected from this area showed that they pay an average of $1875 per month for their mortgages. The population standard deviation of such mortgages is $245. Find a 97% confidence interval for the mean amount of mortgage paid per month by all homeowners in this area.
Please show all your work, write equations clearly, plug in
values properly, and comment on all steps.
The one-way commuting times from home to work for all employees working at a large company have a mean of 37 minutes and a standard deviation of 8 minutes a. Using Chebyshev's theorem, find the minimum percentage of employees at this company who have one-way commuting times in the interval 17 to 57 minutes b. Using Chebyshev's theorem, find the interval that contains...
Exercise 8-7 Algo In order to estimate the mean 30-year fixed mortgage rate for a home loan in the United States, a random sample of 15 recent loans is taken. The average calculated from this sample is 7.85%. It can be assumed that 30-year fixed mortgage rates are normally distributed with a standard deviation of 0.6%. Compute 90% and 95% confidence intervals for the population mean 30-year fixed mortgage rate. Use Table 1. (Round intermediate calculations to 4 decimal places....
2 Based on the confidence that the population standard deviation
of mortgage rates is greater than 0.7
olo Mortgage rates: Following are interest rates (annual percentage rates) for a 30-year fixed rate mortgage from a sample of lenders in Macon, Georgia, on June 20, 2013. Assume that the population is approximately normal. 4.286 4.325 4.134 4.581 4.908 4.429 4.689 3.319 4.84 4.568 4.847 4.996 Send data to Excel Part 1 of 3 (a) Find the sample standard deviation s. Round...
Estimate the affordable monthly mortgage payment, the affordable
mortgage amount, and the affordable home purchase price for the
following situation. (Refer to Exhibit 9-8 and Exhibit 9-9)
(Round time value factor to 2 decimal places, intermediate
and final answers to the nearest whole dollar.)
Monthly gross income
$
4,700
Down payment to be made (percent of purchase
price)
20
percent
Other debt (monthly payment)
$
260
Monthly estimate for property taxes and
insurance
$
490
30-year loan
8.5...
Estimate the affordable monthly mortgage payment, the affordable
mortgage amount, and the affordable home purchase price for the
following situation. (Refer to Exhibit 9-8 and Exhibit 9-9) (Round
time value factor to 2 decimal places, intermediate and final
answers to the nearest whole number.)
Monthly gross income
$
3,450
Down payment to be made (percent of purchase price)
20
Percent
Other debt (monthly payment)
$
220
Monthly estimate for property taxes and insurance
$
280
30-year loan
7.0
Percent
Affordable...
7
A car manufacturer is interested in estimating the true mean fuel consumption in real-world city driving for one of its new models. 10 new randomly selected cars are driven for a tank, and it is found that the sample mean fuel consumption is 9.4 l/100k, with a sample standard deviation of s = 0.343. Suppose the manufacturer wishes to construct a confidence interval for mu, the true mean fuel consumption for this model under these conditions. a) What is...
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