A study intends to estimate a population mean with an unknown population standard deviation and a sample size of 15. Which of th
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Answer:
Step-by-step explanation:
∵ When x is a random variable having distribution B(n, p), then for sufficiently large value of n, the following random variable has a standard normal distribution,
Where,
Here the variable X has a binomial distribution,
Such that, np (1 - p) ≥ 10 ⇒ n is sufficiently large.
Where, n is the total numbers of trials, p is success in each trials,
So, the mean of variable X is,
And, variance of variable X is,
"13" or "more than 13" rides will make the weekly unlimited pass more cost effective. A further solution is provided below.
The given values are:
- Base fare per ride = $2.75
- Discount = 5%
- Weekly unlimited Metro Card costs = $32
The Fare after discount will be:
=
=
=
= ($)
hence,
In $32, the minimum number of rides will be:
=
=
or,
= 13
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