Suppose the time of renting a bicycle for a customer in a bicycle rental shop is normally distributed with mean 200 minutes and standard deviation 100 minutes. The rental fee of a bicycle is shown in the table. (i)  Find the mean and the standard deviation of the rental fee of a bicycle. (ii)  If the standard deviation of the time of renting a bicycle is reduced to 50 minutes, find the new mean of the rental fee of a bicycle. (Give your answers correct to 4 decimal places if necessary.)

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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Suppose the time of renting a bicycle for a customer in a bicycle rental shop is normally distributed with mean 200 minutes and standard deviation 100 minutes.

The rental fee of a bicycle is shown in the table.

  1. (i)  Find the mean and the standard deviation of the rental fee of a bicycle.

  2. (ii)  If the standard deviation of the time of renting a bicycle is reduced to 50 minutes, find

the new mean of the rental fee of a bicycle.

(Give your answers correct to 4 decimal places if necessary.)

The rental fee of a bicycle is shown in the table.
Number of hours occupied
Rental fee
(i)
≤1.5
1.5-4
$20
$30
$50
≥4
Find the mean and the standard deviation of the rental fee of a bicycle.
If the standard deviation of the time of renting a bicycle is reduced to 50 minutes, find
the new mean of the rental fee of a bicycle.
(Give your answers correct to 4 decimal places if necessary.)
Transcribed Image Text:The rental fee of a bicycle is shown in the table. Number of hours occupied Rental fee (i) ≤1.5 1.5-4 $20 $30 $50 ≥4 Find the mean and the standard deviation of the rental fee of a bicycle. If the standard deviation of the time of renting a bicycle is reduced to 50 minutes, find the new mean of the rental fee of a bicycle. (Give your answers correct to 4 decimal places if necessary.)
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