The Territory of Iowa Was Initially Surveyed in the 1830's

question 6

Essay

The Territory of Iowa was initially surveyed in the 1830's. The surveyors were very careful to note the trees and vegetation; it was believed at that time that the richness of the soil could be measured by the density of trees encountered. The sample of Ash tree diameters from the original survey of what is now Linn County, Iowa, is presented in the stem and leaf plot below. The display uses five lines for each stem. Thus, "1t|" is the stem for diameters of 12 and 13, "1f|" for 14 and 15, "1s|" for 16 and 17, and so on. (The "t" then stands for leaves that are twos and threes, the "f" for leaves of fours and fives, etc.)The mean diameter of ash trees in this sample is 11.500 inches, and the standard deviation is 3.842 inches. ​
(a)What is the approximate diameter of an ash tree at the 20th percentile in this distribution?
(b)The Empirical Rule would suggest that 68% of ash tree diameters are between what two values?

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Definitions:

Welfare Policy

A governmental strategy designed to support the wellbeing of citizens, often through financial aid, healthcare, and education.

Health Insurance

A type of insurance that covers the whole or part of the risk of a person incurring medical expenses, spreading the risk over numerous individuals.

Adverse Selection

A situation in which sellers have information that buyers do not have, or vice versa, leading to an inefficient market outcome.

Moral Hazard

A situation in which there is a tendency to take riskier behavior when protected from the consequences of that behavior, often seen in insurance and finance.