A number of very similar boys are competing to become weightlifters. They each t

Question

A number of very similar boys are competing to become weightlifters. They each try their strengths and end up with the following results: 81 kg, 79 kg, 80 kg, 78 kg, 75 kg, 82 kg, 80 kg, 82 kg, 79 kg, 80 kg, 81 kg, C 80 kg, 77 kg, 78 kg, 80 kg. a) Estimate the next competitor's score, based on the results so far. b) Assuming the next competitor is said to be in the weaker %50 of all boys, estimate his score. c) What if he is said to be in the strong %50 of all boys? Estimate again. d) Estimate the population variance and standard deviation. A bar sells a lot of beer during a football game. Before each game, the bar owner orders b bottles of beer at c $ cost per bottle, with a total cost of b x c. Because in non-game days, he does not sell beer much, he considers unsold beer as total loss. The actual demand for beer, D bottles/game varies. He sells beer at s $ price per bottle so his sales make up D x s. If he makes a profit it is at Ds-bc. a) What kind of shape do you think the PDF for the profits has? Is is increasing, decreasing, U-shaped etc? b) For given values of b, c, and s, and the PDF for D, can you find an optimal number of bottles b to keep during the matches?

Explanation / Answer

given data

81,79,80,78,75,82,80,82,79,80,81,80,77,78,80

n=15

therfore mean=1192/15

=79.46667

a)79.46667

b)50% of 79.46667=39.733334

c)150% of 79.46667=119.2

d)standard deviation=1.88478

variance=3.55238

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