True or False Areas within a continuous probability distribution represent proba

Question

True or False Areas within a continuous probability distribution represent probabilities. True or False The total area within a continuous probability distribution is equal to 100. True or False The total area within any continuous probability distribution is equal to 1.00 True or False For any continuous probability distribution, the probability, P(x), of any value of the random variable, X, can be computed. True or False For any discrete distribution, the probability, P(x), of any value of the random variable X, can be computed. Use the following to answer questions 21-23: A major credit card company has determined that customers charge between $100 and $1100 per month. Given that the average monthly amount charged is uniformly distributed, answer the following questions. What is the average monthly amount charged?] a. $600 b, $700 c. $800 d $900 What is the standard deviation of the monthly amount charged? a. 250 b. 288.67 c. 291.5 d. 301.76 What percent of monthly charges are equal to $500? _____ a. 31% b. 24% c. 43% d. Cannot calculate with a continuous distribution.

Explanation / Answer

21.average monthly amount charged is given by (1100+100)/2 or 600

22. Standard deviation is (1100-100)/sqrt(12)=288.67

23. Answer should be D

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