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Compute standard deviation of the amount

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Reference no: EM131742928

Question: Meals. A college student on a seven-day meal plan reports that the amount of money he spends daily on food varies with a mean of $13.50 and a standard deviation of $7.

a) What are the mean and standard deviation of the amount he might spend in two consecutive days?

b) What assumption did you make in order to find that standard deviation? Are there any reasons you might question that assumption?

c) Estimate his average weekly food costs, and the standard deviation.

d) Do you think it likely he might spend less than $50 in a week? Explain, including any assumptions you make in your analysis.

Reference no: EM131742928

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