.g| h Course. ECON1203-Busines > Take a Test. Mnru wen X ) Weeke_2018s2pdf .. EC

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.g| h Course. ECON1203-Busines > Take a Test. Mnru wen X ) Weeke_2018s2pdf .. ECON1203-Business & Economic Statistics-$2/2018 Junru Wen 1 9/21/18 2:01 PM Quiz: Week 9 Fortnightly Quiz Time Remaining: 00.59:16 Submit Quiz This Question: 1 pt 3 of 10(0 complete) This Quiz: 10 pts possible Games for the Pad have a distbution of prices that is skewed to the high end a) Explain why this is what you would expect b)Members of the Pad gamers dub each own about 50 games.Patone such member what wouid you expect the shape of the distbuson of game prices on her iPad to be? c) Each club member computes the average price of his or her games. What shape would you expect the distribution of these averages to have a)Why is this what you would expect? O A. Prices tend to increase as demand increases, so the distribution will be skewed to the right O B. Prices tend to increase over time, so the distribution will be skewed to the right O G. Prices cannot be less than O, but there is nothing to prevent some from being expensive, so they are ikely to be skewed to the high end O D. Prices follow a Poisson distrbution because price is discrete b) What would you expect the shape of the disibution of game prices on Pats iPad to be? A. It should be skewed to the left because people tend to buy more inexpensive game O B. It should resemble the population distribution and be skewed to the right O C. It should be nearly Normal because the sample size is large. OD. Itshould be less ske ved tote n ht oom pared to the population dontunon because members ofthe gamers chmust purchase more expensive games than a typical norme ber. c) What shape would you expect the dismibudion of the averages to have? 0 A· It should be birodal sren people tend to buy ether mostly i expensive or expensive game OB. Itshould be nearty Normal if number of games that each member has is large. OC. It should be uniform wh ail of the values equal to the average. O D. It should resemble the population distribution and be skewed to the right Click to select your answer

Explanation / Answer

a)

Option A is correct.

b)

Option d is correct.

c)

From the central limit theorem, we can say that the averages follow a normal distribution.

So it should be nearly normal if the number of games that each member has is large

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