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Suppose the average length of a TTC delay is 30 minutes with a standard deviation of...

Suppose the average length of a TTC delay is 30 minutes with a standard deviation of 5.5 minutes. A local business estimates that the cost to their business associated with these delays 150H2 −8.50, where H is the duration of a TTC delay in hours. How much will a TTC delay cost, at least 70% of the time? Show all your work and include any annotations you think would be helpful in explaining your process. You may find it helpful to know that E[H4] = 0.07.

Math   Statistics-And-Probability   
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