# 2 peer replies must be 100 words each

Responses should be a minimum of 100 words and may include direct questions. In peer responses, compare the probabilities that I found with those of my classmates. Were they higher/lower and why? In the responses, refer to the specific data from my classmates’ posts that I will include.

**PEER 1 (William):** I thought the excel assignment for this weeks forum was easy to understand after completing last weeks assignment. The assignment asks us to find four different probabilities for the next 4 cars that are sampled. First, we must calculate a new standard deviation using the central limit theorem. In excel this looks like, =oldSD/SQRT(4) because the new sample size is 4. The new standard deviation is 13071.36, and I will use the same mean 36720.00.

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Order Paper NowThe first question asks us to find the probability that (x<36,220). In excel I enter =NORM.DIST(36220,36720,E18,TRUE) and get an answer of 48.47%. The second question asks us to find P(x>37,720). In excel this appears as =1-NORM.DIST(37720,E13,E18,TRUE) and receive an answer of 46.95%. The third question asks us to find P(x=36,720). In excel this appears as =NORM.DIST(E13,E13,E18,FALSE). The chances of this happening are very slim and we receive an answer of 0.00%. Finally, the assignment asks us to find P(35,220<x<38220). In excel this appears as =NORM.DIST(38220,E13,E18,TRUE)-NORM.DIST(35220,E13,E18,TRUE). The answer is 9.14%.

**PEER 2 (Rash):**

- For the next 4 cars that are sampled, what is the probability that the price will be less than $500 dollars below the mean? Make sure you interpret your results.
- For the next 4 cars that are sampled, what is the probability that the price will be higher than $1000 dollars above the mean? Make sure you interpret your results. Use the same logic as above.
- In order to find the what the probability will be for 4 cars that is higher than $1000 above the mean. We would use the formula p(x>52044). This would tell us that 48.54% of cars will be below the $52,044 mean.

- For the next 4 cars that are sampled, what is the probability that the price will be equal to the mean? Make sure you interpret your results. Use the same logic as above.
- In order to find what the probability will be for 4 cars that is equal to the mean. We would use the formula p(x=51044). This would tell us that 1.45% of cars will be equal to mean.

- For the next 4 cars that are sampled, what is the probability that the price will be $1500 within the mean? Make sure you interpret your results. Use the same logic as above.
- In order to find what the probability will be for 4 cars that is within $1500 of the mean. We would use the formula p(50544<X<49544). This would tell us that 1.45% of cars will be within the mean.