Question 255041: A major cab company in Chicago has computed its mean fare from O'Hare Airport to the Drake Hotel to be $25.90. Based on this information, complete the following statements about the distribution of the company's fares from O'Hare Airport to the Drake Hotel. According to Chebyshev's Theorem, at least 56%, 75% 84% 89% of the fares lie within 3 standard deviations of the mean , $25.90.
Suppose the the distribution is bell shaped if approximately of the fares lie between $21.98 and $29.82, then the approximate value of the standard deviation for the distribution, according the the empirical rule is = ?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A major cab company in Chicago has computed its mean fare from O'Hare Airport to the Drake Hotel to be $25.90.
Based on this information, complete the following statements about the distribution of the company's fares from O'Hare Airport to the Drake Hotel. According to Chebyshev's Theorem, at least 56%, 75% 84% 89% of the fares lie within 3 standard deviations of the mean , $25.90.
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The Theorem says "at least 1-(1/k^2) of the population lies within k
standard deviations of the mean".
Your "k" is 3.
So Cheb says at least 1-(1/3)^2 = 8/9 = 89% of the pop lies within 3 std.
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Suppose the the distribution is bell shaped if approximately of the fares lie between $21.98 and $29.82, then the approximate value of the standard deviation for the distribution, according the the empirical rule is = ?
Comment: Some word(s) are missing from this part of the posting.
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Cheers,
Stan H.
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