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Part ii: possible distributions

____ Suppose that X followed the following theoretical distributions. Set up each distribution using the appropriate information from your data.
____ Uniform: X ~ U ____________ Use the lowest and highest values as a and b .
____ Normal: X ~ N ____________ Use x ¯ to estimate for μ and s to estimate for σ .
____ Must your data fit one of the above distributions? Explain why or why not.
____ Could the data fit two or three of the previous distributions (at the same time)? Explain.
____ Calculate the value k (an X value) that is 1.75 standard deviations above the sample mean. k = _________ (rounded to two decimal places) Note: k = x ¯ + (1.75) s
____ Determine the relative frequencies ( RF ) rounded to four decimal places.

Note

R F = frequency total number surveyed

  1. RF ( X < k ) = ______
  2. RF ( X > k ) = ______
  3. RF ( X = k ) = ______

Note

You should have one page for the uniform distribution, one page for the exponential distribution, and one page for the normal distribution.

____ State the distribution: X ~ _________
____ Draw a graph for each of the three theoretical distributions. Label the axes and mark them appropriately.
____ Find the following theoretical probabilities (rounded to four decimal places).

  1. P ( X < k ) = ______
  2. P ( X > k ) = ______
  3. P ( X = k ) = ______
____ Compare the relative frequencies to the corresponding probabilities. Are the values close?
____ Does it appear that the data fit the distribution well? Justify your answer by comparing the probabilities to the relative frequencies, and the histograms to the theoretical graphs.

Part iii: clt experiments

______ From your original data (before ordering), use a random number generator to pick 40 samples of size five. For each sample, calculate the average.
______ On a separate page, attached to the summary, include the 40 samples of size five, along with the 40 sample averages.
______ List the 40 averages in order from smallest to largest.
______ Define the random variable, X ¯ , in words. X ¯ = _______________
______ State the approximate theoretical distribution of X ¯ . X ¯ ~ ______________
______ Base this on the mean and standard deviation from your original data.
______ Construct a histogram displaying your data. Use five to six intervals of equal width. Label and scale it.
Calculate the value k ¯ (an X ¯ value) that is 1.75 standard deviations above the sample mean. k ¯ = _____ (rounded to two decimal places)
Determine the relative frequencies ( RF ) rounded to four decimal places.

  1. RF ( X ¯ < k ¯ ) = _______
  2. RF ( X ¯ > k ¯ ) = _______
  3. RF ( X ¯ = k ¯ ) = _______
Find the following theoretical probabilities (rounded to four decimal places).
  1. P ( X ¯ < k ¯ ) = _______
  2. P ( X ¯ > k ¯ ) = _______
  3. P ( X ¯ = k ¯ ) = _______
______ Draw the graph of the theoretical distribution of X .
______ Compare the relative frequencies to the probabilities. Are the values close?
______ Does it appear that the data of averages fit the distribution of X ¯ well? Justify your answer by comparing the probabilities to the relative frequencies, and the histogram to the theoretical graph.
In three to five complete sentences for each, answer the following questions. Give thoughtful explanations.
______ In summary, do your original data seem to fit the uniform, exponential, or normal distributions? Answer why or why not for each distribution. If the data do not fit any of those distributions, explain why.
______ What happened to the shape and distribution when you averaged your data? In theory, what should have happened? In theory, would “it” always happen? Why or why not?
______ Were the relative frequencies compared to the theoretical probabilities closer when comparing the X or X ¯ distributions? Explain your answer.

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
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Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
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Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
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Shukri
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Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
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Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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