A survey done for the Bermuda tourist industry reported that the average cruise ship visitor to Bermuda

Question:

A survey done for the Bermuda tourist industry reported that the average cruise ship visitor to Bermuda spends $185 for souvenirs, etc. (source: BermudaSun.org). Assume the distribution of visitor spending is uniform, and described by the probability density function

where x = values for the random variable “cruise ship visitor spending.”

a. What percentage of cruise ship visitors spend between $170 and $180?

b. What percentage of cruise ship visitors spend less than $165?

c. 70% of cruise ship visitors spend less than $____.

d. What is the standard deviation of the visitor spending distribution?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...