Question

Annual entertainment expenses in a population of 100 families have a mean of $2040 and a standard deviation of $360.

Answer 1

Answer:

The correct answer is:

(a) Mean = 170,

    Standard deviation = 30

(b) 1700

Step-by-step explanation:

Given:

• n = 100
• μ = 2040
• σ = 360

(a)

Mean of monthly expenses will be:

= $\frac{\mu}{2}$

= $\frac{2040}{2}$

= $170$

Standard deviation will be:

= $\frac{\sigma}{12}$

= $\frac{360}{12}$

= $30$

(b)

The total amount of monthly expenses will be:

= $n\times \frac{\mu}{12}$

= $100\times 170$

= $1700$