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17/25Question 19 A tour guide company is trying to decide if it is going to increase the cost of its tours tO cover its sunk costs. They find that the average sunk ...

Question

17/25Question 19 A tour guide company is trying to decide if it is going to increase the cost of its tours tO cover its sunk costs. They find that the average sunk cost per tour is 858,with standard deviation of $18. If they take random sample of 36 tours, identify each of the following to help them make their decision and round to the nearest hundredth if necessary:Provide your answer below:M =0 =Next

17/25 Question 19 A tour guide company is trying to decide if it is going to increase the cost of its tours tO cover its sunk costs. They find that the average sunk cost per tour is 858,with standard deviation of $18. If they take random sample of 36 tours, identify each of the following to help them make their decision and round to the nearest hundredth if necessary: Provide your answer below: M = 0 = Next



Answers

Get on the boat! Refer to Exercise $37 .$ The ferry company's expenses are $\$ 20$ per trip. Define the random variable $Y$ to be the amount of profit (money collected minus expenses) made by the ferry company on a randomly selected trip. That is, $Y=M-20$

(a) How does the mean of $Y$ relate to the mean of M? Justify your answer. What is the practical importance of $\mu_{Y} ?$
(b) How does the standard deviation of Y relate to the standard deviation of $M ?$ Justify your answer. What is the practical importance of $\sigma_{Y} ?$

A problem. 14 1 we know from the given that y is equal to n minus 20. Ah, also we know that mean off em is equal through 19.35 And the stumbled abbreviation, uh, of em is equal to 6.45 Ah, So we need to go create. Uh, the meat was line and which is ah, equal to El Amine. Off M minus 20. Eso is equal to 19.35 minus grayness was equal to limit of cooperate $65. So the expected loss per trip is open $655 So is 48 41 a for 41 b. We need took a greatest under the aviator Central Division of Roy, which is equal to standard a Tunisian off M minus minus 20 which is equal to ah ah m minus 20 which is equal to s standard. The agent ah them which is able to explain for five and the practically importantly that the fix, of course, don't influence the spread off distributional money and expected course are expected to very by about 6.45 dollars from this elected lost, which is equal to negative. Open 65%. This is the mean up. The standard deviation. Ah, and expected value are, as I mean, the mean back.

Hi, guys. Let's start to Seoul. Problem number 43. Um, the problem of 43 is related to exercise 41 for the 30 company that Ah, the old transfer or move. And the people from one side of the river to the other five. Actually, it transfer cars and X is run the variable of number. Of course, that is transferred in one trip. And ah, here. The very company decided to increase the coast off the trip to $6 instead of five. And so here, why is a neuron? The very rosy is related to the profits. Ah, and the acquittal is asking about the mean and the son of deviation off. Why, Okay, so if we re cab Ah, the mean for X or the mean off the number off course X is equal to three point eight 87 and this is from the previous examples, and the sons of deviation off acts is equal to on 1.1 point tune line. Okay, let's stay in the relationship between wine, which is the Prophet and X, which is the number of course. So the profits basically the profit will be, um, expenses minus uh, we're at the money, and the company would have and and the coast for each car, their trip and expenses she had They're toe pay, every every tree, every trip. So now we know that the coast for a trip, $6 for each car. So the money will be bait to the company. Is six month blind by the number? Of course. One of the expenses. Ah, the company will be every trip. Ah, is $20. And this is also given in exercise 41. So this is the relationship between wine and an ex. If we general are in this relationship by saying that Y is equal to a X plus be, we can see that B is equal to negative 20 and A is equal to 26 Okay, So find the meat and the son of division of wine, We know that we know that Eun and eight x plus b is equal to and a month of blind by you of X class beamed on by knowing that is equal to six. And B is equal to negative 20. We can see that is equal to six. With the blowing by new banks which is 3.87 So three going eight seven blast being which is negative. 20. So this is next thing 20. So the final answer would be, um Will be three points two, too. And this is you. Why the fame thing we can, ah do for a center deviation? We know that Ah, Cigna a x plus be is equal to hey look a blind by Cigna Aw, thanks. So we can substitute a is equal to think so. We can right here seeks not the flying by Sigma of eggs, which is 1.29 So one point to nine. So the final answer will be and seven 0.70 four And this is Sigma. Why? And this is a witch. Thank you.

Ah, proper number 34. We know from the during that Mueller actually 3.87 and some of the Venusian is equal to one point tone. I'm ah, we know that. Ah, the earnings, the earnings. Um, their core x Ah, it's $6 the course is 20. And the course is when many of the others. So we can say that the means Which is why, ah, which is the profits equal to sex? Not like six x minus 20 eso This is earning Ah, not around by the number of course, minus the coast. So it's why is equal to six x minus when we need to ah estimate the middle Why, which is able to the mean a six x minus 22 is equal to six motor going by the new Novaks with the 3.7 minus careening toward the final answer. For that will be, ah three going to it's the center of the Asian. Or why is equal to the sunder the aviation 06 x minus 20 which is equal six multiplying by Sunday division off Ah x. So the final answer for that it will be seven point for seven points Tiven four

Okay, So, uh, here, I've got, um all of the data listed out, um, how it's given in the book, and they want us to do the mean and im on death. Mohs eso This just s most dot com ford slash calculator. So they want us to find the mean and so in decimals, weakness, type and mean put parentheses, E. And then I'm going to use the list name. So I have this all under x one. So I just type x one. Um, And it gives me my mean right here. 18.6666 or 18.6 And you can just put a line over the six. Let me know that it goes on forever. Um, so that's are mean or a point estimate for our meat. Our day part B asked for our variants. Um, and I'm not sure the command for variants it might be Yep, just B a r and and our variants, Um, again, we just type in the command and then put it on our list name, and that gives us to us right here. Now, um, I'm not positive that this did it for a sample, which is what we really need. Um and so ah, let's let's do this a little bit different way, because I do know, um, that the sample standard deviation command as S t d e b um and so this will be for part C for sure. S T d V of X one is 2.914 brought along decimal. Um, now, the other thing I know is that the variants should be the same as the standard deviation squared. So I could just say, um, in fact, let's just make a duplicate. So I go settings and over this one that I want to duplicate, I'm just gonna make it duplicate. It's a done. And now I'm going to put another set of princes around this and square it, Um, and it does look like the variants and the standard deviation. Um, do come out the same. Um, So this this must be the the equation for a sample variance. And so I'm just gonna delete this so that we can clearly see that part is our mean part B. Is this variants And part C is, um, this standard deviation


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