C % of Leases Consumer Banker Association released a report showing the lengths of automobile leases for new automobiles. The results are as follows. Lease Length in Months Percent of Leases 13-24 13.3 25-36 36.7 37-48 30.1 49-60 More than 60 19.6 0.3 (a) Use the midpoint of each class, and call the midpoint of the last class 66.5 months, for purposes of estimating the expected lease term (in months). Also estimate the standard deviation (in months) of the distribution. (Round your answers to two decimal places.) expected lease term standard deviation x months x months (b) Sketch a graph of the probability distribution for the duration of new auto leases. 35 % of Leases 35 30 25 20 15 10 5 0 % of Leases 35 30 25 20 10 5 0 18.5 30.5 42.5 54.5 66.5 18.5 30.5 42.5 54.5 66.5 Lease Length in Months Lease Length in Months 30 25 20 15 10 5 0 18.5 30.5 42.5 54.5 66.5 Lease Length in Months % of Leases 35 30 25 20 15 10 5 0 18.5 30.5 42.5 54.5 66.5 Lease Length in Months