Math Problem Statement
The data set below contains the yields for a one-year certificate of deposit (CD) and a five-year CD for a sample of 41 banks listed in Florida on April 2019. For one-year and five-year CDs separately: Decide whether the data set appears to be approximately normally distributed by comparing data characteristics to theoretical properties and by constructing a normal probability plot. Bank one-year CD five-year CD Ally 2.75 3 Amalgamated 1.6 1.75 AmTrust 2.5 1.01 Applied 0.15 0.15 Armed Forces 2.12 2.27 Bangor Savings 1.66 2.02 Bank of America 0.05 1 Bank United 2.45 1.75 BB & T 0.1 0.3 BlueHarbor 1.75 2.75 BMO Harris 0.15 0.75 Busey 0.5 2.75 Chase 0.01 0.5 Citizen Trust 0.2 0.8 Citizen's Access 2.85 3.15 Colorado Federal Savings 2.86 3 Fairway Credit 0.7 1.61 First Internet of Indiana 2.81 3.14 First Tennessee 0.1 0.55 Giantbank.com 2.28 2.84 Goldwater 2.65 3 Live Oak 2.8 3.05 Luana Savings 1.86 2.06 M. Y. Safari 2.8 3.15 NBKC 2.12 3.04 Pendelton community 1.05 2.21 Pentagon Federal Credit Union 2.4 2.9 PNC 0.1 1.25 Presidential 2.25 3.25 PurePoint Financial 2.8 3.1 Radius 1.55 2.2 Suncoast Credit 1.75 3 TAB 2.69 3.05 TD 0.25 0.55 TIAA 2.75 2.95 Union 1.51 3.03 Urban Partnership 0.25 1.26 USAA 2.06 2.78 Vio 2.35 2.75 VyStar Credit Union 2.2 2.95 Wells Fargo 1.4 1.6 Decide whether the one-year data appear to be approximately normally distributed by comparing data characteristics to theoretical properties. The data ▼ approximately normally distributed. The mean is ▼ the expected value, the range is ▼ the expected value, and the interquartile range is ▼ the expected value.
Solution
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Math Problem Analysis
Mathematical Concepts
Statistics
Normal Distribution
Descriptive Statistics
Probability Plots
Formulas
Mean = (Σx) / n
Standard Deviation = sqrt(Σ(x - mean)^2 / n)
Interquartile Range (IQR) = Q3 - Q1
Theorems
Empirical Rule
68-95-99.7 Rule
Central Limit Theorem
Suitable Grade Level
College Level / Advanced High School
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