5.67 A homeowner has installed a new energy-efficient furnace. It is estimated that over a year the...

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5.67 A homeowner has installed a new energy-efficient furnace.

It is estimated that over a year the new furnace will reduce energy costs by an amount that can be regarded as a random variable with a mean of $200 and a standard deviation of $60. Stating any assumptions you need to make, find the mean and standard deviation of the total energy cost reductions over a period of 5 years.

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Statistics For Business And Economics

ISBN: 9780273767060

8th Global Edition

Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne

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