Listed below are amounts (in millions of dollars) collected from parking meters by a security service company and other companies during similar time periods. Security Service Company 1.5 1.4 1.3 1.6 1.2 1.9 1.7 1.8 1.7 1.6 Other Companies 2.2 1.9 1.5 1.6 1.3 1.8 2.1 1.7 1.6 1.7 Find the range and standard deviation for each of the two samples and then compare the two sets of results. The range for the security service company is $0.7million(s). (Round to two decimal places as needed.) The range for the other companies is $0.9million(s). (Round to two decimal places as needed.) The standard deviation for the security service company is $million(s). (Round to two decimal places as needed.)
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
|
Security Service Company
|
1.5
|
1.4
|
1.3
|
1.6
|
1.2
|
1.9
|
1.7
|
1.8
|
1.7
|
1.6
|
|
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Other Companies
|
2.2
|
1.9
|
1.5
|
1.6
|
1.3
|
1.8
|
2.1
|
1.7
|
1.6
|
1.7
|
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