Tips given to taxi drivers form a substantial part of their income. They also serve as a loose metric of service quality that can be useful for taxi companies. An analysis of a large dataset shows that the tips given (as a percentage of taxi fares) are normally distributed with mean 18.7% and standard deviation 5.8%. Furthermore, tips received for different trips are independent from each other. Use this information to answer the following questions. The taxi driver is scheduled to do three trips with fares $20, $30, and $40, respectively. What is the standard deviation of the tip amount the taxi driver will receive for all three trips? Answer choices: $3.12 $3.72 $4.32 $4.92 $5.52
Tips given to taxi drivers form a substantial part of their income. They also serve as a loose metric of service quality that can be useful for taxi companies. An analysis of a large dataset shows that the tips given (as a percentage of taxi fares) are
Answer choices:
$3.12
$3.72
$4.32
$4.92
$5.52
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