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[8] PRICES OF RARE COINS FREQUENCY $0 - $399.99 11 $400 - $799.99 9 $800 -...

[8] PRICES OF RARE COINS FREQUENCY

$0 - $399.99 11

$400 - $799.99 9

$800 - $1199.99 6

$1200 - $1599.99 17

$1600 - $1999.99 14

My coin collection is full of rare coins which are charted above. If we picked out one coin from the collection, what is the probability that it would be worth between $399.99 and $1200?

Math   Statistics-And-Probability   
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Homework Answers

Answer #1

To find the probability for each class, we just divide each class frequency by total frequency. So, we get following table-

Prices Frequency Probabaility
0-399.99 11 0.193
400-799.99 9 0.1579
800-1199.99 6 0.1053
1200-1599.99 17 0.2982
1600-1999.99 14 0.2456
Total 57 1

Now, we have to calculate the probability that coin would worth between $399.99 & $1200 -

So, P(399.99 < x < 1200) = 0.1579 + 0.1053 = 0.2632

Hence, probability that coin would worth between $399.99 & $1200 is 0.2632.

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