Hey for b-1 I just need the mean. I also need the mean and standard deviation for C. Thank you ### Parking Analysis Exercise**b-1. Calculate the Mean and Standard Deviation of Parking Duration**- **Task:** Find the mean and the standard deviation of the number of hours parked.- **Instructions:** Do not round the intermediate calculations. Round your final answers to 3 decimal places.| | ||-------|--------|| Mean | || Standard deviation | 2.141 |**b-2. Determine Average Parking Duration**- **Task:** How long is a typical customer parked?- **Instructions:** Do not round the intermediate calculations. Round your final answer to 3 decimal places.| | ||----------------------------------------|--------|| The typical customer is parked for | hours |**c. Calculate the Mean and Standard Deviation of Parking Charges**- **Task:** Find the mean and the standard deviation of the amount charged.- **Instructions:** Do not round the intermediate calculations. Round your final answers to 3 decimal places.---This exercise involves calculating the statistical measures of central tendency and dispersion to analyze parking durations and charges. **Exercise 6-8 (LO6-3)**The Downtown Parking Authority of Tampa, Florida, reported the following information for a sample of 223 customers on the number of hours cars are parked and the amount they are charged.| Number of Hours | Frequency | Amount Charged ||-----------------|-----------|----------------|| 1 | 15 | $4 || 2 | 38 | $5 || 3 | 52 | $9 || 4 | 45 | $13 || 5 | 20 | $14 || 6 | 12 | $16 || 7 | 5 | $18 || 8 | 36 | $20 || **Total** | 223 | |- [Click here for the Excel Data File]**a-1. Convert the information on the number of hours parked to a probability distribution. (Round your answers to 3 decimal places.)**| Hours | Probability ||-------|-------------|| 1 | 0.067 || 2 | 0.171 || 3 | 0.233 || 4 | 0.202 || 5 | 0.090 || 6 | 0.054 |- **Page 3 of 5** - **Previous** - **Next**

Name: Hey for b-1 I just need the mean. I also need the mean and standard de
Uploaded: 2024-03-20T07:06:16.000Z
Channel: Bartleby
Description: Hey for b-1 I just need the mean. I also need the mean and standard deviation for C. Thank you ### Parking Analysis Exercise**b-1. Calculate the Mean and Standard Deviation of Parking Duration**- **Task:** Find the mean and the standard deviation of

Consider the following table: Number of Hours(xi) Amount Charged(yi) Frequency Probability 1 4…

Answered: Hey for b-1 I just need the mean. I…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

Hey for b-1 I just need the mean. I also need the mean and standard deviation for C. Thank you

### Parking Analysis Exercise

**b-1. Calculate the Mean and Standard Deviation of Parking Duration**

- **Task:** Find the mean and the standard deviation of the number of hours parked.
- **Instructions:** Do not round the intermediate calculations. Round your final answers to 3 decimal places.

| | |
|-------|--------|
| Mean | |
| Standard deviation | 2.141 |

**b-2. Determine Average Parking Duration**

- **Task:** How long is a typical customer parked?
- **Instructions:** Do not round the intermediate calculations. Round your final answer to 3 decimal places.

| | |
|----------------------------------------|--------|
| The typical customer is parked for | hours |

**c. Calculate the Mean and Standard Deviation of Parking Charges**

- **Task:** Find the mean and the standard deviation of the amount charged.
- **Instructions:** Do not round the intermediate calculations. Round your final answers to 3 decimal places.

---

This exercise involves calculating the statistical measures of central tendency and dispersion to analyze parking durations and charges.

**Exercise 6-8 (LO6-3)**

The Downtown Parking Authority of Tampa, Florida, reported the following information for a sample of 223 customers on the number of hours cars are parked and the amount they are charged.

| Number of Hours | Frequency | Amount Charged |
|-----------------|-----------|----------------|
| 1 | 15 | $4 |
| 2 | 38 | $5 |
| 3 | 52 | $9 |
| 4 | 45 | $13 |
| 5 | 20 | $14 |
| 6 | 12 | $16 |
| 7 | 5 | $18 |
| 8 | 36 | $20 |
| **Total** | 223 | |

- [Click here for the Excel Data File]

**a-1. Convert the information on the number of hours parked to a probability distribution. (Round your answers to 3 decimal places.)**

| Hours | Probability |
|-------|-------------|
| 1 | 0.067 |
| 2 | 0.171 |
| 3 | 0.233 |
| 4 | 0.202 |
| 5 | 0.090 |
| 6 | 0.054 |

- **Page 3 of 5** - **Previous** - **Next**

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Expert Solution

Step 1

Consider the following table:

Number of Hours(x_i)	Amount Charged(y_i)	Frequency	Probability
1	4	15	0.067
2	5	38	0.171
3	9	52	0.233
4	13	45	0.202
5	14	20	0.090
6	16	12	0.054
7	18	5	0.022
8	20	36	0.161
Total		223	1

Step 2

b-1.) The mean number of hours parked is $x = \sum_{i = 1}^{8} x_{i} f_{i} = (1 \times 0.067 + 2 \times 0.171 + 3 \times 0.233 + 4 \times 0.202 + 5 \times 0.09 + 6 \times 0.054 + 7 \times 0.022 + 8 \times 0.161) = (0.067 + 0.342 + 0.699 + 0.808 + 0.45 + 0.324 + 0.154 + 1.288) = 4.132$

The variance is

$V a r = \sum_{i = 1}^{8} {x_{i}}^{2} f_{i} - x^{2} = (1^{2} \times 0.067 + 2^{2} \times 0.171 + 3^{2} \times 0.233 + 4^{2} \times 0.202 + 5^{2} \times 0.09 + 6^{2} \times 0.054 + 7^{2} \times 0.022 + 8^{2} \times 0.161) - 4 . 132^{2} = (0.067 + 0.684 + 2.097 + 3.232 + 2.25 + 1.944 + 1.078 + 10.304) - 4 . 132^{2} = 21.656 - 17.073424 = 4.582576 S d = \sqrt{V a r} = \sqrt{4.582576} = 2.140695214 \approx 2.141$

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

Knowledge Booster

$Centre, Spread, and Shape of a Distribution$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.