Estimate the average cost of the crossing for a family

Reference no: EM132394513

Case Study : The Voyage of the St. Andrew

Answer the Following Questions :

1. Using the information provided, describe, through graphical summaries and numerical summaries such as the mean and standard deviation, each probability distribution.

2. Does it appear that, on average, the Neulanders were successful in signing more than one family from a parish? Does it seem likely that most of the families knew one another prior to undertaking the voyage? Explain your answers for both questions.

3. Using the mean number of freights purchased per family, estimate the average cost of the crossing for a family in pistoles and in U.S. dollars.

4. Is it appropriate to estimate the average cost of the voyage from the mean family size? Why or why not?

5. Langenscheidt came across a fragment of another ship's passenger list containing information for six families. Of these six, five families purchased more than four freights. Using the information in the appropriate probability distribution for the St. Andrew, calculate the probability that at least five of six German immigrant families purchased more than four freights. Does it seem likely that these families came from a population similar to that of the Germans on board the St. Andrew? Explain.

6. Summarize your findings in a report. Discuss any assumptions made throughout this analysis. What are the consequences to your calculations and conclusions if your assumptions are subsequently determined to be invalid?

Reference no: EM132394513

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