Question: Open Sheet in Microsoft Excel type the following function (=10+40*RAND()), produce 100 random values ranging from 10 to 50 and format the number so that
Open Sheet in Microsoft Excel type the following function (=10+40*RAND()), produce 100 random values ranging from 10 to 50 and format the number so that it has only 1 decimal place for all of them then,
Assume that the date is the weight of a randomly chosen sample of cows raised on American farm.
Part 1:
1.If the sample is representative, the farmer owns roughly 35000 cows. Describe with numbers the weight of his cows (how is it distributed?).
2. Dissect the cow weights into weight groups, each group being between 5s, then assume that no cow weighing less than 15 kilos will be sold and held until next year, while the prices of each cow above that are equal to dollars. (Weight X 1.25) Explain the transactions with the farmer.
3. In part b, which group has the highest sales? What one got the lowest? Create a sales table for both groups. ( please calculate the sales price for each group )
Part 2:
1. What is the probability of getting one cow with weight between 30 and 35 Kilograms at random?
2. What is the group that will have the highest likelihood of being selected at random?
3. What is the expected value of the price for each group?
4. What is the probability of selecting a cow with weight between 30 and 35 kilograms given that it is less than 45 Kilograms?
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