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Consumer Banker Association released a report showing the lengths of automobile leases for new automobiles. The results are as follows. Lease Length in Months Percent of Leases 13-24 13.9% 25-36 36.1% 37-48 49-60 26.2% 23.4% More than 60 0.4% (a) Use the midpoint of each class, and call the midpoint of the last class 66.5 months, for purposes of computing the expected lease term. Also find the standard deviation of the distribution. (Round your answers to two decimal places.) expected lease term months standard deviation (b) Sketch a graph of the probability distribution for the duration of new auto leases. Sof Leases Sof Leases 18.5 30.5 425 545 665 18.5 30.5 42.5 54.5 665 Lanse Lengh in Monts Lase Lengh in Monte Sof Leases 185 30.5 425 545 665 185 305 425 545 665 Lase Lengh in Monte Lanse Lengh in Monte

Consumer Banker Association released a report showing the lengths of automobile leases for new automobiles. The results are as follows. Lease Length in Months Percent of Leases 13-24 13.9% 25-36 36.1% 37-48 49-60 26.2% 23.4% More than 60 0.4% (a) Use the midpoint of each class, and call the midpoint of the last class 66.5 months, for purposes of computing the expected lease term. Also find the standard deviation of the distribution. (Round your answers to two decimal places.) expected lease term months standard deviation (b) Sketch a graph of the probability distribution for the duration of new auto leases. Sof Leases Sof Leases 18.5 30.5 425 545 665 18.5 30.5 42.5 54.5 665 Lanse Lengh in Monts Lase Lengh in Monte Sof Leases 185 30.5 425 545 665 185 305 425 545 665 Lase Lengh in Monte Lanse Lengh in Monte

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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Consumer Banker Association released a report showing the lengths of automobile leases for new automobiles. The results are as follows. Lease Length in Months Percent of Leases 13-24 13.9% 25-36 36.1% 37-48 26.2% 49-60 23.4% More than 60 0.4% (a) Use the midpoint of each class, and call the midpoint of the last class 66.5 months, for purposes of computing the expected lease term. Also find the standard deviation of the distribution. (Round your answers to two decimal places.) expected lease term months standard deviation (b) Sketch a graph of the probability distribution for the duration of new auto leases. 30 30 25 20 20 sof Leases of Leases 15 15 10 10 18.5 30.5 42.5 54.5 665 Lense Lengh in Monte 18.5 30.5 425 545 665 Lease Lengh in Monts 25 20 &of Leases 20 &of Leases 15 15 10 10 18.5 30.5 42.5 54.5 665 18.5 30.5 42.5 54.5 665 Lease Lengh in Monts Laase Lengh in Monts
Transcribed Image Text:Consumer Banker Association released a report showing the lengths of automobile leases for new automobiles. The results are as follows. Lease Length in Months Percent of Leases 13-24 13.9% 25-36 36.1% 37-48 26.2% 49-60 23.4% More than 60 0.4% (a) Use the midpoint of each class, and call the midpoint of the last class 66.5 months, for purposes of computing the expected lease term. Also find the standard deviation of the distribution. (Round your answers to two decimal places.) expected lease term months standard deviation (b) Sketch a graph of the probability distribution for the duration of new auto leases. 30 30 25 20 20 sof Leases of Leases 15 15 10 10 18.5 30.5 42.5 54.5 665 Lense Lengh in Monte 18.5 30.5 425 545 665 Lease Lengh in Monts 25 20 &of Leases 20 &of Leases 15 15 10 10 18.5 30.5 42.5 54.5 665 18.5 30.5 42.5 54.5 665 Lease Lengh in Monts Laase Lengh in Monts
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