Question
A taxi driver charges his passengers a $5 flat fee plus $2 per mile. Suppose that the distribution of trip distances of his passengers is
A taxi driver charges his passengers a $5 flat fee plus $2 per mile. Suppose that the distribution of trip distances of his passengers is approximately normal with a mean of 9 miles and a standard deviation of 2 miles. 11. What is the distribution of the fares?
N(23,4)
12. What is the probability that the fare will exceed $25? 1-pmorm(25,23,4) = 0.3085375
13. Suppose we collect information from five passengers (who had used this taxi service) on how much money they had spent in total. If Y = total amount spent by these five individuals, then What is the expected value and variance of Y?
14. What would be the distribution of Y?
15. (continued from above)Let M be the sample mean of the information collected from these five individuals. What is the distn of M?
16. What are the chances that out of the five individuals at least 3 of them spent more than $27?
17. What are the expected value and variance of the number of people who spent more than $30?
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