Questions from Business Statistics

Q: Find the mean and standard deviation of the number of repair calls

Find the mean and standard deviation of the number of repair calls the appliance shop in Exercise 23 should expect during an 8-hour day.

Q: Find the mean and standard deviation of the number of red lights

Find the mean and standard deviation of the number of red lights the commuter in Exercise 24 should expect to hit on her way to work during a 5-day work week.

Q: A delivery company trucks occasionally get parking tickets, and based on

A delivery company trucks occasionally get parking tickets, and based on past experience, the company plans that each truck will average 1.3 tickets a month, with a standard deviation of 0.7 tickets....

Q: Organizers of a televised fundraiser know from past experience that most people

Organizers of a televised fundraiser know from past experience that most people donate small amounts ($10 $25), some donate larger amounts ($50 $100), and a few people make very generous donations of...

Q: An insurance company estimates that it should make an annual profit of

An insurance company estimates that it should make an annual profit of $150 on each homeowner policy written, with a standard deviation of $6000. 1. Why is the standard deviation so large? 2. If it wr...

Q: A casino knows that people play the slot machines in hopes of

A casino knows that people play the slot machines in hopes of hitting the jackpot but that most of them lose their dollar. Suppose a certain machine pays out an average of $0.92, with a standard devia...

Q: For the roller coaster data in Exercise 49: 1.

For the roller coaster data in Exercise 49: 1. Explain why in looking for a variable that explains rank, you will be hoping for a negative correlation. 2. Do any of the provided variables provide a st...

Q: The amount of cereal that can be poured into a small bowl

The amount of cereal that can be poured into a small bowl varies with a mean of 1.5 ounces and a standard deviation of 0.3 ounces. A large bowl holds a mean of 2.5 ounces with a standard deviation of...

Q: The American Veterinary Association claims that the annual cost of medical care

The American Veterinary Association claims that the annual cost of medical care for dogs averages $100, with a standard deviation of $30, and for cats averages $120, with a standard deviation of $35....

Q: In Exercise 45 we poured a large and a small bowl of

In Exercise 45 we poured a large and a small bowl of cereal from a box. Suppose the amount of cereal that the manufacturer puts in the boxes is a random variable with mean 16.2 ounces and standard dev...