The demand (in number of copies per day) for a city newspaper is listed below with corresponding
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x = DemandP(x)
50,000........................... .1
70,000.......................... .25
90,000........................... .4
110,000......................... .2
130,000........................ .05
a. Graph the probability distribution of x.
b. Find the expected demand. Interpret this value, and label it on the graph of part a.
c. Using Chebyshev's Theorem, find the minimum percentage of all possible daily demand values that will fall in the interval [μx, ± 2σx].
d. Calculate the interval [μx ± 2σx]. Illustrate this interval on the graph of part a. According to the probability distribution of demand x previously given, what percentage of all possible daily demand values fall in the interval [μx ± 2σx]? Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For
Business Statistics In Practice
ISBN: 9780073401836
6th Edition
Authors: Bruce Bowerman, Richard O'Connell
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