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How much of a cushion will you have per day

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Reference no: EM131742926

Question: Travel to Kyrgyzstan. Your pocket copy of Kyrgyzstan on 4237 ± 360 Som a Day claims that you can expect to spend about 4237 som each day with a standard deviation of 360 som. How well can you estimate your expenses for the trip?

a) Your budget allows you to spend 90,000 som. To the nearest day, how long can you afford to stay in Kyrgyzstan, on average?

b) What's the standard deviation of your expenses for a trip of that duration?

c) You doubt that your total expenses will exceed your expectations by more than two standard deviations. How much extra money should you bring? On average, how much of a cushion will you have per day?

Reference no: EM131742926

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