Chapter 6.2, Problem 41E

a.

To determine

To find: The mean of Y .

Answer to Problem 41E

The mean of Y is -0.65.

Explanation of Solution

Given:

Population mean $\left(\mu \right)=19.35$

Population standard deviation $\left(\sigma \right)=6.45$

  $Y=M-20$

Calculation:

Here, $Y=M-20$

  $\begin{array}{c}{\mu }_Y={\mu }_M-20\\ =19.35-20\\ =-0.65\end{array}$

The expected loss per trip is 0.65.

b.

To determine

To find: The standard deviation of Y .

Answer to Problem 41E

The standard deviation of Y is 6.45.

Explanation of Solution

Calculation:

The standard deviation of Y can be calculated as:

  $\begin{array}{c}{\sigma }_Y={\sigma }_M-20\\ =6.45\end{array}$

The expected cost is expected to differ from $6.45 from the expected loss of $-0.65 per trip.