Sample mean and standard deviation

Reference no: EM1315593

The State of Pennsylvania has changed one of its toll roads from manual collection of tolls to machine collection. The idea behind the change was to allow traffic to flow more quickly through the toll plaza. With human attendants, the mean number of cars passing through the toll plaza was 1,253 per hour. A random sample of 120 hours under the new machine system of toll collection shows a sample mean of 1,261 with a standard deviation of 59. Should Pennsylvania adopt the new system for all toll roads in the state?

Reference no: EM1315593

Questions Cloud

Prepare a post closing trial balance : Prepare a post closing trial balance from given trail balance and adjustments - prepare a post closing trial balance

Probability that selected person will drive bus : Given that Vacationer will travel less than 500 miles, Find out the probability that he/she will drive or take the Bus/Train?

Determine the profitability of each product line : Assign administrative overhead costs to the two product lines based on ABC, using the cost drivers designated in the data provided above. Determine the profitability of each product line (in dollars and percentages)

Economic growth and expected profit in recession : Suppose that the car manufacturer allows the car dealer to return all unsold cars at the end of a recessionary year. What is the car dealer's profit in a growth year and in a recession? What is their expected profit?

Sample mean and standard deviation : Shows a sample mean of 1,261 with a standard deviation of 59. Should Pennsylvania adopt the new system for all toll roads in the state?

Marginal product and average product-curves relationship : Explain why marginal product first rises, then declines, and ultimately becomes negative. What bearing does the law of diminishing returns have on short-run costs? Be specific.

Determining midrange and standard variance : Determine the Midrange. Determine the Standard Variance. Determine the Standard Deviation

Analysis of price-quantity and diminishing returns : At the management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns". Is this statement correct? If so, why? If not, explain why no..

Questions based on operating and finance leases : Questions based on Operating and Finance leases and What is the difference in the actual out-of-pocket cash flows between the two payments, that is, by how much (in thousands of dollars)does one payment exceed the other?

User Account

All Pages