The Distribution of the Amount Spent for Childcare in a Midwestern

question 131

Short Answer

The distribution of the amount spent for childcare in a Midwestern city has a mean of $675 and a standard deviation of $80. A random sample of 64 families paying for childcare is selected.
Is the sampling distribution of the sample mean approximately normal?
______________
What is the mean?
______________
What is the standard deviation?
______________
Find the probability that the sample mean is between $645 and $700.
______________
Find the probability that the sample mean is less than $700.
______________

Solve linear equations and understand the properties of equality.

Understand the concept of graphical representation of equations.

Convert between Celsius and Fahrenheit temperature scales and understand the underlying linear relationship.

Interpret the slope and intercept in the context of a given real-world problem.

---

Definitions:

Forward Rate

The agreed-upon price for a financial transaction to be executed at a future date, used particularly in currency and interest rate markets.

2-year Bond

A debt security that matures in two years and typically offers periodic interest payments.

Stripped Treasuries

Securities derived from U.S. Treasury bonds by separating the coupons from the principal, allowing them to be sold separately as zero-coupon bonds.

Pure Yield Curve

A theoretical representation of the rates of interest for zero-coupon bonds across different maturities under the assumption of no risk.