A designer collected information on the price of a random sample of newly designed products and the time required to manufacture each of these products. Below are the mean and standard deviation of these two variables. Variablee Meane Standard deviation= 200 Price (in $)² Manufacturing time (in hours) 50 e 0.61e (a) Find the coefficient of variations (CV) for both variables. Give the exact answers in percentage. Which one of the two variables has a larger variation? (b) Interpret the coefficient of variations of the price of the products in part (a). (c) Find the z-score of the price of a product which cost $275. Correct your answer to 2 decimal places. (d) By using Chebyshev's theorem, at least what percentage of the products will have manufacturing time lying within ( 2. 3 ) standard deviations from the mean? Correct your answer to 1 decimal place|

A designer collected information on the price of a random sample of newly designed products and the time required to manufacture each of these products. Below are the mean and standard deviation of these two variables. Variablee Meane Standard deviation= 200 Price (in $)² Manufacturing time (in hours) 50 e 0.61e (a) Find the coefficient of variations (CV) for both variables. Give the exact answers in percentage. Which one of the two variables has a larger variation? (b) Interpret the coefficient of variations of the price of the products in part (a). (c) Find the z-score of the price of a product which cost $275. Correct your answer to 2 decimal places. (d) By using Chebyshev's theorem, at least what percentage of the products will have manufacturing time lying within ( 2. 3 ) standard deviations from the mean? Correct your answer to 1 decimal place|

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Description: A designer collected information on the price of a random sample of newly designed products andthe time required to manufacture each of these products. Below are the mean and standarddeviation of these two variables.VariableeMeane Standard deviation

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Topic Video

Question

A designer collected information on the price of a random sample of newly designed products and
the time required to manufacture each of these products. Below are the mean and standard
deviation of these two variables.
Variablee
Meane Standard deviation=
200
Price (in $)²
Manufacturing time (in hours)
50 e
0.61e
(a) Find the coefficient of variations (CV) for both variables. Give the exact answers in
percentage. Which one of the two variables has a larger variation?
(b) Interpret the coefficient of variations of the price of the products in part (a).
(c) Find the z-score of the price of a product which cost $275. Correct your answer to 2
decimal places.
(d) By using Chebyshev's theorem, at least what percentage of the products will have
manufacturing time lying within ( 2. 3 ) standard deviations from the mean? Correct
your answer to 1 decimal place|

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