Problem regarding the movie rentals

Assignment Help Basic Statistics

Reference no: EM131009031

Movie rentals. To compete with Netflix, the owner of a movie rental shop decided to try sending DVDs through the mail. In order to determine how many copies of newly released titles he should purchase, he carefully observed turnaround times. Since nearly all of his customers were in his local community, he tested delivery times by sending DVDs to his friends. He found the mean delivery time was 1.3 days, with a standard deviation of 0.5 days. He also noted that the times were the same whether going to the customer or coming back to the shop.

a) Find the mean and standard deviation of the round-trip delivery times for a DVD (mailed to the customer and then mailed back to the shop).

b) The shop owner tries to process a DVD that is returned to him and get it back in the mail in one day, but circum- stances sometimes prevent it. His mean turnaround time is 1.1 days, with a standard deviation of 0.3 days. Find the mean and standard deviation of the turnaround times com- bined with the round-trip times in part a.

Reference no: EM131009031

Questions Cloud

Create a random variable for the collector : a) Define your random variables, and use them to create a random variable for the collector's net income. b) Find the mean (expected value) of the net income.

Define the pearson correlation coefficient : Define the Pearson Correlation Coefficient. Define correlation. Define a scatter plot. Define the Point-biserial Correlation Coefficient

Implement stack-based bidirectional : Describe and explain in detail the concept forward and bidirectional iterators on Set and Map container classes and implement Stack-based bidirectional "in-order", "pre-order", and "post-order" iterators for binary trees

Problem regarding the online applications : Researchers for an online market- ing company suggest that new customers who have to become a member before they can check out on the website are very intolerant of long applications. One way to rate an application is by the total number of keystr..

Problem regarding the movie rentals : To compete with Netflix, the owner of a movie rental shop decided to try sending DVDs through the mail. In order to determine how many copies of newly released titles he should purchase, he carefully observed turnaround times. Since nearly all of ..

Calculating the mean : a) Define your random variables, and use them to express the farmer's net income. b) Find the mean of the net income. c) Find the standard deviation of the net income. d) Do you need to make any assumptions in calculating the mean? How ab..

Problem regarding the bike sale : Define random variables and use them to express the bi- cycle shop's net profit. What's the mean of the net profit?

What desirable attributes of shipping facilities plans : The average operator of a certain company performs at 100% (avenge path) and the tinge of performance is from about 60% to 140%, and the distribution is assumed to be oormaL Determine the station speed of the company's assembly line assuming that ..

Find the hydrostatic pressure on the bottom of the aquarium : Find the hydrostatic pressure on the bottom of the aquarium. Find the hydrostatic force on the bottom of the aquarium. Find the hydrostatic force on one end of the aquarium.

User Account

All Pages