Question

A major cab company in Chicago has computed its  mean fare from O'Hare Airport to the Drake Hotel to be $29.90, with a standard deviation of $4.67.Based on this information, complete the following statements about the distribution of the company's fares from O'Hare Airport to the Drake Hotel.

(a) According to Chebyshev's theorem, at least ?56%75%84%89% of the fares lie between 18.225 dollars and 41.575 dollars.

(b) According to Chebyshev's theorem, at least ?56%75%84%89% of the fares lie between 20.56 dollars and 39.24 dollars.

(c) Suppose that the distribution is bell-shaped. According to the empirical rule, approximately ?68%75%95%99.7% of the fares lie between 20.56 dollars and 39.24 dollars.

(d) Suppose that the distribution is bell-shaped. According to the empirical rule, approximately 68% of the fares lie between

dollars and dollars.

Answer 1

a)) According to Chebyshev's theorem, at least 84% of the fares lie between 18.225 dollars and 41.575 dollars

( because they are 2.5 standard deviation from the mean)

b)According to Chebyshev's theorem, at least 75% of the fares lie between

( ( because they are 2 standard deviation from the mean)

c)

According to the empirical rule, approximately 95% of the fares lie between 20.56 dollars and 39.24 dollars.

d)

for 68% values fall within 1 standard deviation from mean. therefore
corresponding interval =			(29.9-1*4.67,29.9+1*4.67)=(between 25.23 and 34.57)