Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Whether you use rideshare apps, public transportation or own a car, transportation costs are a key part of a monthly budget. According to multiple sources,

image text in transcribed
image text in transcribed
Whether you use rideshare apps, public transportation or own a car, transportation costs are a key part of a monthly budget. According to multiple sources, the total monthly transportation spending of a randomly selected US consumer has an unknown distribution with a mean of 830 dollars and a standard deviation of 56.6 dollars. Let X be the total monthly transportation spending for a randomly selected US consumer and let X be the average total monthly transportation spending for a random sample of size 50. 1. Describe the probability distribution of X and state its parameters p. and 0': Km [Selectananswer V][,u= ,0": ) and find the probability that the total monthly transportation spending for a randomly selected US consumer is between 827 and 855 dollars. {Round the answer to 4 decimal places} 2. Use the Central Limit Theorem I Select an answer V I to describe the probability distribution of I? and state its parameters pi and of: {Round the answers to 1 decimal place) X N [Selectananswer V:I(f= ,O'JT= ) and find the probability that the average total monthly transportation spending for a sample of 50 randomly selected US consumers is less than 827 dollars. _' {Round the answer to 4 decimal places}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Number Theory

Authors: Gove Effinger, Gary L Mullen

1st Edition

1000427129, 9781000427127

More Books

Students also viewed these Mathematics questions

Question

List the 8 Es and explain how they impact organizational success.

Answered: 1 week ago

Question

4. What means will you use to achieve these values?

Answered: 1 week ago

Question

3. What values would you say are your core values?

Answered: 1 week ago