Statistics for Business and Economics
Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
Question
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Chapter 2, Problem 44E

a)

To determine

Identify the sample mean number of minutes late.

a)

Expert Solution
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Explanation of Solution

From the given information, the mean number of claims per policy can be calculated as follows:

Mean(X¯)=mifin=150583=18.1325

A table can be constructed using the value of mean as follows:

Table 1.

 mi fifimi(miX¯)(miX¯)2fi(miX¯)2
530150-13.133172.465173.90
1525375-3.1339.81245.32
25133256.86747.16613.11
35621016.867284.511707.07
45522526.867721.863609.30
55422036.8671359.215436.84
Total831505  16785.54

b)

To determine

Identify the sample variance and standard deviations.

b)

Expert Solution
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Explanation of Solution

The sample variance and standard deviation can be calculated using the tabulated values as follows:

Sample varience (S2)=fi(miX¯)2n1=16785.5482=204.7017Standard deviation(S)=204.7017=14.307

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