SOLUTION: A cab company computed its mean fare from O'Hare Airport to a hotel to be $25.35 Based on this information, complete the following statements about the distribution of the cab fare

Question 136397: A cab company computed its mean fare from O'Hare Airport to a hotel to be $25.35 Based on this information, complete the following statements about the distribution of the cab fare to the hotel.
a. According to Chebyshev's theorem, at least ______% of the fare lies within 1.5 standard deviations of the mean, 25.35 dollars.
b. Suppose that the distribution is bell shaped. If aproximately 99.7% of the fares lie between 14.67 dollars and 36.03 dollars, then the approximate value of the standard deviation for the distribution, according to the empirical rule is ___________
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
a. According to Chebyshev's theorem, at least 1- (1/1.5)^2 = 55.555% of the fare lies within 1.5 standard deviations of the mean, 25.35 dollars.
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b. Suppose that the distribution is bell shaped. If aproximately 99.7% of the fares lie between 14.67 dollars and 36.03 dollars, then the approximate value of the standard deviation for the distribution, according to the empirical rule is (36.03-14.67)/6 = 3.56_
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Cheers,
Stan H.

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