The parking authority in downtown Halifax reported the following information for

Question

The parking authority in downtown Halifax reported the following information for a sample of 240 customers on the number of hours cars are parked and the amount they are charged: Number of Hours Frequency Amount Charged 1 20 $2 2 39 5 3 51 8 4 43 10 5 37 12 6 17 15 7 5 18 8 28 20 Total 240 a-1. Convert the information on the number of hours parked to a probability distribution. (Round the final answers to 3 decimal places.) Hours Probability 1    2    3    4    5    6    7    8    Find the mean and the standard deviation of the number of hours parked. (Round the final answers to 3 decimal places.)   Mean      Standard deviation    b-2. How would you answer the question, how long is a typical customer parked? (Round the final answer to 3 decimal places.)   The typical customer is parked for hours. c. Find the mean and standard deviation of the amount charged. (Round the final answers to 2 decimal places.)   Mean      Standard deviation    The parking authority in downtown Halifax reported the following information for a sample of 240 customers on the number of hours cars are parked and the amount they are charged:

Explanation / Answer

(a)

Mean = 4.038 hours

Variance = 20.404 - 4.038^2 = 4.1

Standard deviation = 2.02

(b) The typical customer is parked for 4.038 hours

(c)

Mean amount charged = 2422/240 = $10.09

Standard deviation = (6150/240) = $5.06

Hours Probability x * P(x) x^2 * P(x) 1 0.083 0.083 0.083 2 0.163 0.325 0.650 3 0.213 0.638 1.913 4 0.179 0.717 2.867 5 0.154 0.771 3.854 6 0.071 0.425 2.550 7 0.021 0.146 1.021 8 0.117 0.933 7.467 Sum 1.000 4.038 20.404

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