Travel to Kyrgyzstan Your pocket copy of Kyrgyzstan on 4237 360 Soms a Day claims that
Question:
Travel to Kyrgyzstan Your pocket copy of Kyrgyzstan on 4237 ± 360 Soms a Day claims that you can expect to spend about 4237 soms each day with a standard deviation of 360 soms. How well can you estimate your expenses for the trip?
a) Your budget allows you to spend 90 000 soms. To the nearest day, how long can you afford to stay in Kyrgyzstan, on average?
b) What’s the standard deviation of your expenses for a trip of that duration?
c) You doubt that your total expenses will exceed your expectations by more than two standard deviations. How much extra money should you bring? On average, how much of a “cushion” will you have per day?
Step by Step Answer:
Stats Data And Models
ISBN: 9780134301051
3rd Canadian Edition
Authors: Richard De Veaux, Paul Velleman, David Bock, Augustin Vukov, Augustine Wong