Draw the histogram for the travel time distribution

Assignment Help Microeconomics
Reference no: EM131008617

The U.S. Census Bureau (2000 census) reported the following relative frequency distribution for travel time to work for a large sample of adults who did not work at home:

Travel Time

(minutes)

 

Relative Frequency

0 to 5

.04

5 to 10

.13

10 to 15

.16

15 to 20

.17

20 to 25

.14

25 to 30

.05

30 to 35

.12

35 to 40                               .03

40 to 45                              .03

45 to 60                              .06

60 to 90                              .05

90 or more                           .02

a. Draw the histogram for the travel time distribution. In constructing the histogram, assume that the last interval in the relative frequency distribution (90 or more) ends at 200; so the last interval is 90 to 200. Be sure to use the density scale to determine the heights of the bars in the histogram because not all the intervals have the same width.

b. Describe the interesting features of the histogram from Part (a), including center, shape, and spread.

c. Based on the histogram from Part (a), would it be appropriate to use the Empirical Rule to make statements about the travel time distribution? Explain why or why not.

d. The approximate mean and standard deviation for the travel time distribution are 27 minutes and 24 minutes, respectively. Based on this mean and standard deviation and the fact that travel time cannot be negative, explain why the travel time distribution could not be well approximated by a normal curve.

e. Use the mean and standard deviation given in Part

(d) and Chebyshev's Rule to make a statement about

i. the percentage of travel times that were between 0 and 75 minutes

ii. the percentage of travel times that were between 0 and 47 minutes

f. How well do the statements in Part (e) based on Chebyshev's Rule agree with the actual percentages for the travel time distribution? (Hint: You can estimate the actual percentages from the given relative frequency distribution.)

Reference no: EM131008617

Questions Cloud

Would use empirical rule to approximate proportion of adults : The article "Taxable Wealth and Alcoholic Beverage Consumption in the United States" (Psycho- logical Reports [1994]: 813-814) reported that the mean annual adult consumption of wine was 3.15 gallons and that the standard deviation was 6.09 gallon..
Determining the product testing : A company is producing and market- ing new reading activities for elementary school children that it believes will improve reading comprehension scores.
Societal marketing orientation strategies : Identify a research topic and write two-three pages (double-spaced) on why you selected the topic, and provide three or more related annotated references
Find the relevant equilibrium of given function : Find the relevant equilibrium and use the stability criterion to determine when it is stable. Draw a cob webbing diagram.
Draw the histogram for the travel time distribution : The approximate mean and standard deviation for the travel time distribution are 27 minutes and 24 minutes, respectively. Based on this mean and standard deviation and the fact that travel time cannot be negative, explain why the travel time distr..
Explain why the government taxi authority : Explain why the Government Taxi Authority has an incentive to only issue one licence. What problem does the Government Taxi Authority create if it only issues one licence?
Assuming sales of the sprinklers were discontinued : Assuming sales of the sprinklers were discontinued after 2010, prepare any journal entry(s) in 2011 related to the warranty.
Bronson industries reported a deferred tax liability : Determine the effect of the change and prepare the appropriate journal entry to record Bronson's income tax expense in 2011.
Briefly describe the accounting treatment for this change : The Peridot Company purchased machinery on January 2, 2009, for $800,000. A five-year life was estimated and no residual value was anticipated.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd