Twenty passengers were found ticketless on a bus. The sum of squares and the S.D. of the amount found in their pockets were dollar 2,000.00 and dollar 6.00 respectively. If the total fine imposed on these passengers is equal to the total amount recovered from them and fine imposed is uniform, what is the amount each one of them has to pay as fine? What difficulties do you visualise if such a system of penalty were imposed?

Twenty passengers were found ticketless on a bus. The sum of squares and the S.D. of the amount found in their pockets were dollar 2,000.00 and dollar 6.00 respectively. If the total fine imposed on these passengers is equal to the total amount recovered from them and fine imposed is uniform, what is the amount each one of them has to pay as fine? What difficulties do you visualise if such a system of penalty were imposed?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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