Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

The Downtown Parking Authority of Tampa, Florida, reported the following information for a sample of 241 customers on the number of hours cars are parked and the amount they are charged.

Number of Hours Frequency Amount Charged
1 39 $3.00
2 30 4.00
3 21 5.00
4 18 8.00
5 54 12.00
6 27 14.00
7 30 16.00
8 22 18.00

______________

241

______________

Convert the information on the number of hours parked to a probability distribution

Hours Probability
1
2
3
4
5
6
7
8

Is this a discrete or a continuous probability distribution?

Find the mean and the standard deviation of the number of hours parked.

How long is a typical customer parked?

Find the mean and the standard deviation of the amount charged.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91019929

Have any Question?


Related Questions in Statistics and Probability

Lee smith imports paid a 100 per share annual dividend last

Lee Smith Imports paid a $1.00 per share annual dividend last week. Dividends are expected to increase by 5% annually. What is one share of this stock worth to you today if the appropriate discount rate is 14%? a. $7.14 ...

The time spent in days waiting for a heart transplant can

The time spent (in days) waiting for a heart transplant can be approximated by a normal distribution. Day range of 60-200.  u=129 o=20.2.  (a) What is the shortest number of days spent that would put a patient in the top ...

Your friend randomly chooses a square picture frame from

Your friend randomly chooses a square picture frame from the store. Let X be the height in inches of the picture frame. Based on your knowledge of the square picture frames at the store, you know that the expected height ...

The random variable x takes on the values 5 20 30 and 200

The random variable X takes on the values 5, 20, 30, and 200 with probabilites 0.60, 0.30, 0.08, and 0.02 respectively. Use the statistical capacity of your calculator to find the expected value of Xrounded to one place ...

The jo supplies company buys calculators from a korean

The J.O. Supplies Company buys calculators from a Korean supplier. The probability of a defective calculator is 20%. If 15 calculators are selected at random, what is the probability that less than 5 of the calculators w ...

Is there a way to approach this problem in excelthe

Is there a way to approach this problem in Excel: The Marriott Hotel marketing team wants to estimate ρ, the proportion of the hotel guests who were return visitors in the past three years. They select a simple random sa ...

Staples has six special drafting pencils for sale two of

Staples has six special drafting pencils for sale, two of which are defective. A student buys two of these six drafting pencils, selected at random. Let the random variable X be the number of defective pencils. Construct ...

Given the following values 20 m 16 07 conduct a

Given the following values: = 20, M = 16, = 0.7, conduct a one-sample z test at a .05 level of significance. What is the decision for a two-tailed test? A) to reject the null hypothesis B) to retain the null hypothesis C ...

The researchers stated that there were no significant

The researchers stated that there were no significant differences in the baseline characteristics of the intervention and control groups. Are these groups heterogeneous or homogeneous at the beginning of the study? Why i ...

A random sample of 12 parts from factory a has an average

A random sample of 12 parts from factory A has an average reliability of 4.48 with a sample standard deviation of 3.19. A random sample of 15 products from factory B has an average reliability of 2.36 with a sample Stand ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As