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1. Repair calls. A small engine shop receives an average of 1.7 repair calls per hour, with a standard deviation of 0.6. What is the mean and standard deviation of the number of calls they receive for an 8-hour day? What, if anything, did you assume?
2. Insurance company. An insurance company estimates that it should make an annual profit of $150 on each homeowner's policy written, with a standard deviation of $6000.
a) Why is the standard deviation so large?
b) If the company writes only two of these policies, what are the mean and standard deviation of the annual profit?
c) If the company writes 1000 of these policies, what are the mean and standard deviation of the annual profit?
d) What circumstances could violate the assumption of in- dependence of the policies?
according to an airline a particular flight is on time 85 of the time. suppose 13 flights are randomly selected and the
Compute the standard error of estimate, and interpret its meaning.
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an engineer commutes daily from his suburban home to his midtown office. the average time for a one way trip is 24
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suppose you have some data gathered from a repeated experiment. if you want to make inferences about the data collected
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A website recorded whether visitors click on a shown ad. The following plot shows the outcomes for a sequence of 100 visitors, with a 1 shown if the visitor clicked on the ad and a 0 otherwise. Complete part (a) and (b) below.
your chemistry professor last semester lost your final exam. he therefore used your total points earned prior to the
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