What dollar amount should bills be investigated

Assignment Help Basic Statistics
Reference no: EM132479274

A recent Channel 7 News story claims that the city municipal transportation authority pays too much for routine automobile maintenance of their vehicle fleet. The average (mean) amount paid by the unit is $104.15 with a standard deviation of $9.71 (normal distribution). As an initial step, the department head decides to investigate the most expensive 25% of the routine maintenance bills. According to the criteria above, what dollar amount should bills be investigated?

Reference no: EM132479274

Questions Cloud

Find the point estimate of the population mean : Assume that the population of times is normally distributed. a. Find the point estimate of the population mean.
Test series comprising five matches : The Indian cricket team is visiting New Zealand to play a test series comprising five matches. In each match, assume that the Indian team has a 70% chance
Analyze proposals should be selected based on expected costs : What other factors (besides expected costs) should Ms. John consider before making a decision? What then might the decision be?
Journalize the two entries required to close the accounts : After the accounts have been adjusted at April 30, the end of the fiscal year, Journalize the two entries required to close the accounts
What dollar amount should bills be investigated : According to the criteria above, what dollar amount should bills be investigated?
If a and b are independent events : Events A and B are mutually exclusive. Which of the following statements is also true?
How to enter in financial calculator : Today in an account paying 10% for the first two years, then 12% for the next three years, and then 10% thereafter. How much will you have in 6 years?
Compute Dow basic and diluted earnings per share : The market price at the common stock averaged $40 per share during 2021. Compute Dow's basic and diluted earnings per share for the year ended December 31, 2021
F ratio for a four-group experiment : A researcher computed the F ratio for a four-group experiment. The computed F is 4.86. The degrees of freedom are 3 for the numerator and 16 for the denominator

Reviews

Write a Review

Basic Statistics Questions & Answers

  Suppose the average number of imperfections per sheet of

for quality control purposes a company that manufactures copper sheets routinely takes samples from its production

  The positioning of nests in shrubs was noted for a species

the positioning of nests in shrubs was noted for a species of bird. use the data shown to determine if there was a

  Use the sample data and confidence level to construct the

use the sample data and confidence level to construct the confidence interval estimate of the population proportion p.

  Lower percentage engaging in heavy drinking

a. Did the sample of Valproate-takers have a lower percentage engaging in heavy drinking?

  Find standard for material needs that impact strength

The standard for this material requires that impact strength must be greater than 1.0ft-lb/in. The sample average and standard deviation obtained were 1.25 and 0.25 respectively.

  Equation be used for predictions if we consider the value

In the regression equation: y=0.35*x+15, where x takes some values in the range [5,15], what is the predicted value if x=10? Can this equation be used

  Find the expected value of y

Find the expected value of Y when x = 150, E(Y | 150).- How much change in the dependent variable is expected when x increases by one unit? Justify your answer.

  Modify the make-account procedure

Modify the make-account procedure so that it creates password-protected accounts. That is, make-account should take a symbol as an additional argument, as in (define acc (make-account 100 'secret-password

  Find probability that selected vials has a hairline crack

In a shipment of 59 vials, only 18 does not have hairline cracks. 6 vials are randomly selected from the shipment. Find the probability that at least one of the 6 selected vials has a hairline crack.

  Control-chart limits for averages for the boxes of cereal

The overall average for the samples is 17 ounces. The range is only 0.5 ounce. Determine the upper and lower control-chart limits for averages for the boxes of cereal.

  Probability that the mean falls between the limits

If 280 different coins are inserted into the vending machine, what is the probability that the mean falls between the limits of 5.553 g and 5.773 g? The probability is approximately nothing . (Round to four decimal places as needed.)

  In which percentile is a 6-year-old girl who is tall

According to the National Health Center, the heights of 6-year-old girls are Normally distributed with a mean of 45 inches and standard deviation of 2 inches.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd