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 25-36 37-48 49-60 More than 60 11.5% 36.7% 29.5% 21.5% 0.8% (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.) A. expected lease term months B. standard deviation
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
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 25-36 37-48 49-60 More than 60 |
11.5% 36.7% 29.5% 21.5% 0.8% |
| A. expected lease term | months |
| B. standard deviation |
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