Answered: Tips given to taxi drivers form a…

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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Question

Tips given to taxi drivers form a substantial part of their income. They also serve as a loose metric of service quality that can be useful for taxi companies. An analysis of a large dataset shows that the tips given (as a percentage of taxi fares) are normally distributed with mean 18.7% and standard deviation 5.8%. Furthermore, tips received for different trips are independent from each other. Use this information to answer the following questions. A taxi driver just received a 15% tip. S/he plans to do five more trips for the day. What is the chance that at least three out of the five trips will receive tips over 15%?

Answer choices:

0.014

0.22

0.44

0.66

0.88

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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