Which adds more dollars to the cost of a college textbook?
1 answer:
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Answer:
The minimum usual value: 818.803
The maximum usual value: 870.797
The population mean: 844.8
The standard deviation: 12.9985
Step-by-step explanation:
The parameters provided for the Binomial Distribution are:
n=1056, p=0.80
The population mean can be computed as:
μ = n ⋅ p
= 1056 × 0.80 = 844.8
The population variance is obtained by:
σ² = n ⋅ p ⋅ (1 − p)
= 1056 × 0.80 × 0.2 = 168.96
The standard deviation can be computed by taking the squared root of the variance:
σ =
=
= 12.9985
The minimum usual value: μ - 2σ = 844.8 - 2(12.9985)
= 844.8 - 25.997
= 818.803
The maximum usual value: μ + 2σ = 844.8 + 2(12.9985)
= 844.8 + 25.997
= 870.797
<em>Keywords: minimum and maximum usual value, standard deviation, mean</em>
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