Ask Question
BusinessBusiness
31 August, 20:51

According to the U. S. Department of Labor, the average American household spends $639 on household supplies per year. Suppose annual expenditures on household supplies per household are uniformly distributed between the values of $261 and $1,017. (a) What is the standard deviation of this distribution? (b) What is the height of this distribution? (c) What proportion of households spend more than $900 per year on household supplies? (d) What proportion of households spend more than $1,220 per year on household supplies? (e) What proportion of households spend between $330 and $510 on household supplies?

+4
Answers (1)
  1. 31 August, 23:32
    0
    a. 222.8

    b. 0.002591

    c. 0.2785

    d. P (X>1290) = 0 as 1290 lies outside.

    e. 0.142487

    Explanation:

    a) std deviation = (b-a) / (12) 1/2 = (1025-253) / (12) 1/2 = 222.8572

    b) as area = 1

    (1/2) * height * (1025-253) = 1

    height of this distribution = 2 / (1025-253) = 0.002591

    c) P (X>810) = (1025-810) / (1025-253) = 0.2785

    d) P (X>1290) = 0 as 1290 lies outside.

    e) P (370
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “According to the U. S. Department of Labor, the average American household spends $639 on household supplies per year. Suppose annual ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Fairchild Garden Supply expects $700 million of sales this year, and it forecasts a 15% increase for next year. The CFO uses this equation to forecast inventory requirements at different levels of sales: Inventories = $30.2 + 0.25 (Sales).
Answers (1)
Your opinion is that security C has an expected rate of return of 0.106. It has a beta of 1.1. The risk-free rate is 0.04 and the market expected rate of return is 0.10. According to the Capital Asset Pricing Model, this security isA. underpriced. B.
Answers (1)
On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr.
Answers (1)
What is the main difference between mechanical and electromagnetic waves open study?
Answers (1)
In the secondary market, what determines the cost of a share of stock? A. The regulations of the government B. The investment banks C. The interaction of consumers D. The corporation
Answers (1)
New Questions in Business
On July 1, 2013, Farm Fresh Industries purchased a specialized delivery truck for $126,000. At the time, Farm Fresh estimated the truck to have a useful life of eight years and a residual value of $30,000.
Answers (2)
Based on this which component of the sarcomere is actually being moved when the sarcomere contracts and relaxes
Answers (1)
Which of the following is the best example of direct-response print advertising? a. An advertorial A mailing from a travel agency that asks you to explain why your spouse deserves a dream vacation b. The opening Web page for ebates c.
Answers (1)
QS 9-5 Allowance method for bad debts LO P2 Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $2,000 account of a customer, C. Green. On March 9, it receives a $1,500 payment from Green. 1.
Answers (1)
More and more companies are increasing their interactive marketing budgets. most of this investment will be made in:
Answers (1)
Home » Business » According to the U. S. Department of Labor, the average American household spends $639 on household supplies per year. Suppose annual expenditures on household supplies per household are uniformly distributed between the values of $261 and $1,017.
Sign Up Forgot Password?