Asked by Alejandra Veloz on May 08, 2024
Verified
Pamela called nine repair shops for quotes for auto repairs and pick the quote closest to the mean.The prices are $139,$150,$345,$99,$169,$155,$140,$200,and $160.She heard that data collections that are normally distributed will have 95% of its values within 2 standard deviations of the mean and wants to remove any quotes outside of that mark before determining a revised average that will help her make a decision.What is the mean price quote for 95% of the auto repairs that are within 2 standard deviations of the mean?
Standard Deviations
A statistical metric that quantifies the variability or spread of a dataset relative to its mean, used in various fields to assess variation.
Mean Price
The average price of a set of goods or services, calculated by summing all prices and dividing by the number of items.
- Discern and interpret the values of correlation coefficients.
- Analyze and ascertain calculations of dispersion.
Verified Answer
KR
Keimoni RamseyMay 08, 2024
Final Answer :
Pamela should discount the $345 quote because it is not between $41.22 and $304.78 and determine the mean of the other eight values,which is $151.50.Pamela will take her car to the repair shop that quoted $150.00.
Learning Objectives
- Discern and interpret the values of correlation coefficients.
- Analyze and ascertain calculations of dispersion.