al B5 pounds. Complete parts a) and b) hope that yearing steers will weigh at le

Question

al B5 pounds. Complete parts a) and b) hope that yearing steers will weigh at leest 1000 pounds. To see how much over or under that goal t the caffle are, we could subtract 1000 pounds from all the weights. What would the new mean and standard deviation be? a) Catle buyers that The new mean wouild be pounds The rew standard divaton would be ? ponds b Suppose such caftle sell at auction for 35 cents pound Find the mean and standard deviation of the sale prices for all the steens The mean price is The standard devialion is

Explanation / Answer

Original mean weight, u = 1115 pounds

Original Standard deviation , s = 85 pounds

(a) Subtracting 1000 pounds from all the weights reduces the mean by 1000 pounds whereas standard deviation remains unchanged.

Thus, the new mean would be 115 pounds.

The new standard deviation would be 85 pounds.

(b) The mean price = Mean weight (in pound) × price per pound = 1115 × 35 = 39025 cents =$ 390.25

The standard deviation price = SD weight(in pound) × price per pound = 85 × 35 = 2975 cents = $ 29.75

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