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z Scores. In Exercises, express allz scores with two

Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola ISBN: 9780321836960 18

Solution for problem 5BSC Chapter 3.4

Elementary Statistics | 12th Edition

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Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola

Elementary Statistics | 12th Edition

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Problem 5BSC

 

z Scores. In Exercises, express allz scores with two decimal places.

Obama’s Net Worth As of this writing, Barack Obama is President of the United States and he has a net worth of $3,670,505. The 17 members of the Executive Branch have a mean net worth of $4,939,455 with a standard deviation of $7,775,948 (based on data from opensecrets.org).

a. What is the difference between President Obama’s net worth and the mean net worth of all members of the Executive Branch?

b. How many standard deviations is that (the difference found in part (a))?

c. Convert President Obama’s net worth to a z score.

d. If we consider “usual” amounts of net worth to be those that convert to z scores between −2 and 2, is President Obama’s net worth usual or unusual?

Step-by-Step Solution:
Step 1 of 3

Solution 5BSC

(a)

The difference between the given President’s net worth and the mean net worth of allis

Therefore, the President’s net worth is $1,268,950 below the mean net worth.

(b)

We know that, score for a data value  found by

.

The score for net worth $3,670,505 is

Therefore, 0.16 standard deviations below the mean...

Step 2 of 3

Chapter 3.4, Problem 5BSC is Solved
Step 3 of 3

Textbook: Elementary Statistics
Edition: 12
Author: Mario F. Triola
ISBN: 9780321836960

This full solution covers the following key subjects: Net, worth, obama, president, scores. This expansive textbook survival guide covers 121 chapters, and 3629 solutions. The full step-by-step solution to problem: 5BSC from chapter: 3.4 was answered by , our top Statistics solution expert on 03/15/17, 10:30PM. Since the solution to 5BSC from 3.4 chapter was answered, more than 746 students have viewed the full step-by-step answer. The answer to “z Scores. In Exercises, express allz scores with two decimal places.Obama’s Net Worth As of this writing, Barack Obama is President of the United States and he has a net worth of $3,670,505. The 17 members of the Executive Branch have a mean net worth of $4,939,455 with a standard deviation of $7,775,948 (based on data from opensecrets.org).a. What is the difference between President Obama’s net worth and the mean net worth of all members of the Executive Branch?________________b. How many standard deviations is that (the difference found in part (a))?________________c. Convert President Obama’s net worth to a z score.________________d. If we consider “usual” amounts of net worth to be those that convert to z scores between ?2 and 2, is President Obama’s net worth usual or unusual?” is broken down into a number of easy to follow steps, and 128 words. This textbook survival guide was created for the textbook: Elementary Statistics, edition: 12. Elementary Statistics was written by and is associated to the ISBN: 9780321836960.

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