The mean of a distribution of selected theme park admission prices is $59 with a standard deviation of $3.99. The mean cost of a distribution of a specific home stereo system sold at many different stores is $1,499 with a standard deviation of $4.a. Which distribution has the lower standard deviation?b. Which distribution is more spread out? Explain.
Chapter 1, Application 1.2 #13
The mean of a distribution of selected theme park admission prices is $59 with a standard deviation of $3.99. The mean cost of a distribution of a specific home stereo system sold at many different stores is $1,499 with a standard deviation of $4.
a. Which distribution has the lower standard deviation?
b. Which distribution is more spread out? Explain.
This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!
Answer
a. Since the standard deviation of the theme park admission prices is $3.99, and the standard devia…View the full answer
Related Book For 
Financial Algebra Advanced Algebra With Financial Applications
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
ISBN: 9781337271790