Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Computer Science Posted 19 Sep 2017 My Price 5.00

Consumer Banker Association

Probability Distribution: Auto Leases Consumer Banker Association released a report showing the lengths of automobile leases for new automobiles. The results are as follows.

Lease Length in Months

Percent of Leases

13–24

12.7%

25–36

37.1%

37–48

28.5%

49–60

21.5%

More than 60

0.2%

(a) Use the midpoint of each class, and call the midpoint of the last class 66.5 months, for purposes of computing the expected lease term. Also find the standard deviation of the distribution.

(b) Sketch a graph of the probability distribution for the duration of new auto leases.

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Sep 2017 06:09 AM My Price 5.00

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