Concept explainers
John can take either of two routes (A or B) to LAX airport. At midday on a typical Wednesday the travel time on either route is
a.
Find the better route for John to reach at the airport in 54 minutes to pick up his spouse.
Answer to Problem 91CE
The better route for John to reach at the airport in 54 minutes to pick up his spouse is route A.
Explanation of Solution
Calculation:
It is given that the time on route A follows normal distribution with mean of 54 minutes, standard deviation of 6 minutes and the time on route B follows normal distribution with mean of 60 minutes, standard deviation of 3 minutes.
Normal distribution:
A continuous random variable X is said to follow normal distribution if the probability density function of X is,
Assume that the random variable X denotes the time to reach airport.
For route A:
It is given that
Now, the probability to reach at the airport in 54 minutes using route A, implies that
Probability value:
Software procedure:
Step-by-step software procedure to obtain probability value using EXCEL is as follows:
- Open an EXCEL file.
- In cell A1, enter the formula “=NORM.DIST(54,54,6,1)”.
- Output using EXCEL software is given below:
Therefore,
Thus, the probability to reach at the airport in 54 minutes using route A is 0.5.
For route B:
It is given that
Now, the probability to reach at the airport in 54 minutes using route B, implies that
Probability value:
Software procedure:
Step-by-step software procedure to obtain probability value using EXCEL is as follows:
- Open an EXCEL file.
- In cell A1, enter the formula “=NORM.DIST(54,60,3,1)”.
- Output using EXCEL software is given below:
Therefore,
Thus, the probability to reach at the airport in 54 minutes using route B is 0.0228.
Therefore, there is more chance to reach airport by route A than by route B.
Thus, the better route for John to reach at the airport in 54 minutes to pick up his spouse is route A.
b.
Find the better route for John to reach at the airport in 66 minutes to pick up his spouse.
Answer to Problem 91CE
The better route for John to reach at the airport in 60 minutes to pick up his spouse is route A.
Explanation of Solution
Calculation:
For route A:
It is given that
Now, the probability to reach at the airport in 66 minutes using route A, implies that
Probability value:
Software procedure:
Step-by-step software procedure to obtain probability value using EXCEL is as follows:
- Open an EXCEL file.
- In cell A1, enter the formula “=NORM.DIST(60,54,6,1)”.
- Output using EXCEL software is given below:
Therefore,
Thus, the probability to reach at the airport in 60 minutes using route A is 0.8413.
For route B:
It is given that
Now, the probability to reach at the airport in 60 minutes using route B, implies that
Probability value:
Software procedure:
Step-by-step software procedure to obtain probability value using EXCEL is as follows:
- Open an EXCEL file.
- In cell A1, enter the formula “=NORM.DIST(60,60,3,1)”.
- Output using EXCEL software is given below:
Therefore,
Thus, the probability to reach at the airport in 60 minutes using route B is 0.5.
Therefore, there is more chance to reach airport by route A than by route B.
Thus, the better route for John to reach at the airport in 60 minutes to pick up his spouse is route A.
c.
Find the better route for John to reach at the airport in 60 minutes to pick up his spouse.
Answer to Problem 91CE
The better route for John to reach at the airport in 66 minutes to pick up his spouse is route B.
Explanation of Solution
Calculation:
Coefficient of variation:
Coefficient of variation for a random variable X is defined as,
It is better to use a random variable with lower CV.
For route A:
It is given that
Now, the probability to reach at the airport in 66 minutes using route A, implies that
Probability value:
Software procedure:
Step-by-step software procedure to obtain probability value using EXCEL is as follows:
- Open an EXCEL file.
- In cell A1, enter the formula “=NORM.DIST(66,54,6,1)”.
- Output using EXCEL software is given below:
Therefore,
Thus, the probability to reach at the airport in 66 minutes using route A is 0.9972.
The CV for route A is,
For route B:
It is given that
Now, the probability to reach at the airport in 66 minutes using route B, implies that
Probability value:
Software procedure:
Step-by-step software procedure to obtain probability value using EXCEL is as follows:
- Open an EXCEL file.
- In cell A1, enter the formula “=NORM.DIST(66,60,3,1)”.
- Output using EXCEL software is given below:
Therefore,
Thus, the probability to reach at the airport in 66 minutes using route B is 0.9972.
The CV for route B is,
Therefore, there is same chance to reach airport by route A and route B.
Now, the coefficient of variation for route B is less than route A.
Thus, the better route for John to reach at the airport in 66 minutes to pick up his spouse is route B.
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Chapter 7 Solutions
Applied Statistics in Business and Economics
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