A bank is reviewing its risk management policies with regards to mortgages. To minimize the risk of lending, the bank wants to compare the typical mortgage owed by their clients against other homebuyers. The average mortgage owed by Americans is $306,500, with a standard deviation of $24,500. Suppose a random sample of 150 Americans is selected. Identify each of the following, rounding your answers to the nearest cent when appropriate: 1. $mu=?
2. $sigma=?
3. $=n=$
4. $mu_{overlinex}=$x=?
5. $sigma_{overlinex}=$x=?

1.

2.

3.

4.

5.

Step-by-step explanation:

The average mortgage owed by Americans is $306,500, with a standard deviation of $24,500.

From the above information, we know that,  

The population mean is

The population standard deviation is

Suppose a random sample of 150 Americans is selected

Since the sample size is quite large then according to the central limit theorem, the sample mean is approximately normally distributed.

The sample mean would be the same as the population mean  that is

The sample standard deviation is given by

Where is the population standard deviation and n is the sample size.

Therefore, the required parameters are:

1.

2.

3.

4.

5.

to plot points   for x just start at the origin (middle) and go to the left however many times it say(if the number is a positive) if the number is a negative then go right however many times it says if it is 0 go nowhere

now keep you pencil there and go up however many times it says on y(if it is positive) if it is negative then go down however many times it says. if it says 0 go nowhere.

you have just plotted a point! now when you finish plotting all of them connect them with a ruler

plot each point as (-3, 7), (0,4), (3,1), (8,-4)   in the parenthesis on the left of the comma is x and the right is y.