Statistics Assignment: Probability

Statistics Assignment

Table of Contents
PART 1............................................................................................................................................1
PART B............................................................................................................................................1
Introduction:.....................................................................................................................................1
Conclusion.......................................................................................................................................5
REFERENCES................................................................................................................................7

PART 1
a). Under the given question, probabilities for randomly selected individual is calculated by
using: (X-Mean)/SD.
Z=(25-21)5=+0.8
Area in standard normal curve right to the z value represents the required probability.
P(X>25)=P(z>0.8)=0.2119.
b). z1= (10-21)/5= -2.2
z2=(20-21)/5= -0.2.
Area which requires the standard normal curve between these two z values mention the required
probability.
P(10<X<20)=P(-2.2<z<0<0.2)=0.4861 (area corresponding to z1)- 0.0793 (area corresponding to
z2)= 0.4068.
c). Middle 95% is depicted by 0.9500 area about mean.
Which implies which 0.9500/2= 0. 4750. area lies on accurate side of the mean. The z value
corresponding to 0.4750 area is 1.96 henceforth, required X values are mean +/-(z*SD). 21+/-
9.8
Middle 95% of the amount of cash spent would be reduce between 11.2 and 30.8.
PART B.
Introduction:
Property taxes are the key major revenue source which is used by the state and the local
government. Nowadays, state property tax format covers only a subset of total income: mainly
homes and business real estate and, under few states, cars and the business property instead of
the real estate. Regressivity of property taxes is totally based on the issues under the control of
the policy makers, like- implementation of the exemptions, tax credits, and preferential tax rates
for homeowners, and on external components. Mean, median, mode are used almost entire levels
of myth and statistics1. Although, there are abnormal types of descriptive statistics which are
most crucial. Under part B, various business tools are used such as entire descriptive statistics
that are able to help various business decisions regarding property taxes among 50 states.
1 Ghadle, K. P., and Y. M. Muley. "Revised Ones Assignment Method for solving assignment
problem." Journal of Statistics and Mathematics 4, no. 1 (2013): 147.
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