/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Q.1.2 A large auto dealership keeps tr... [FREE SOLUTION] | 91影视

91影视

Log out

Learning Materials

Features

Discover

Chapter 6: Q.1.2 (page 362)

A large auto dealership keeps track of sales made during each hour of the day. Let X= the number of cars sold during the 铿乺st hour of business on a randomly selected Friday. Based on previous records, the probability distribution of Xis as follows:

The random variable Xhas mean 渭X=1.1and standard deviation 蟽X=0.943.

To encourage customers to buy cars on Friday mornings, the manager spends 75to provide coffee and doughnuts. The manager鈥檚 net pro铿乼 Ton a randomly selected Friday is the bonus earned minus this 75. Find the mean and standard deviation ofT.

Short Answer

Expert verified

From the given information, the required mean and standard deviation are 475and 471.50respectively.

Step by step solution

01

Given Information

Given in the question that,

The random variable Xhas mean 渭X=1.1

The standard deviation 蟽X=0.943

The manager spends 75to provide coffee and doughnuts

02

Step 2: Explanation

The function of Tis :

T=Y-75

The mean and standard deviation of Tcan be calculated as:

localid="1649912551282" 渭T=渭75鈭�渭(75)=550鈭�75=475蟽T=蟽Y鈭�75=蟽Y=471.50

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

A large auto dealership keeps track of sales and leases agreements made during each hour of the day. Let X= the number of cars sold and Y= the number of cars leased during the 铿乺st hour of business on a randomly selected Friday. Based on previous records, the probability distributions of Xand Yare as follows:

顿别铿乶别 D=X-Y.

The dealership鈥檚 manager receives a 500bonus for each car sold and a300 bonus for each car leased. Find the mean and standard deviation of the difference in the manager鈥檚 bonus for cars sold and leased. Show your work.

18. Life insurance

(a) It would be quite risky for you to insure the life of a 21-year-old friend under the terms of Exercise 14. There is a high probability that your friend would live and you would gain \(1250in premiums. But if he were to die, you would lose almost \)100,000. Explain carefully why selling insurance is not risky for an insurance company that insures many thousands of 21-year-old men.

(b) The risk of an investment is often measured by the standard deviation of the return on the investment. The more variable the return is, the riskier the
investment. We can measure the great risk of insuring a single person鈥檚 life in Exercise 14by computing the standard deviation of the income Y that the insurer will receive. Find 蟽Y using the distribution and mean found in Exercise 14.

Flip a coin. If it's headed, roll a 6-sided die. If it's tails, roll an 8-sided die. Repeat this process 5times. Let W=the number of 5's you roll.

Predicting posttest scores(3.2) What is the equation of the linear regression model relating posttest and pretest scores? 顿别铿乶别 any variables used.

20. Size of American households In government data, a household consists of all occupants of a dwelling unit, while a family consists of two or more persons who live together and are related by blood or marriage. So all families form households, but some households are not families. Here are the distributions of household size and family size in the United States:

Let X = the number of people in a randomly selected U.S. household and Y = the number of people in a randomly chosen U.S. family.
(a) Make histograms suitable for comparing the probability distributions of X and Y. Describe any differences that you observe.
(b) Find the mean for each random variable. Explain why this difference makes sense.
(c) Find the standard deviations of both X and Y. Explain why this difference makes sense.

See all solutions

Recommended explanations on Math Textbooks

Calculus

Read Explanation

Logic and Functions

Read Explanation

Theoretical and Mathematical Physics

Read Explanation

Discrete Mathematics

Read Explanation

Geometry

Read Explanation

Statistics

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.