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Statistics - Assignment Example

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The scatter diagram shows that higher income earners have higher life expectancy. Note also that the scatter is denser below 35,000.
From the charts above, it’s precisely evident that high school…
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Download file to see previous pages In theory, an increase in income increases life expectancy, but the data results show a high concentration of low income earners having high life expectancy across all other races.
Since the expected loss is less than the warranty cost, then it is rational not to buy it. Buying the warranty would only become rational when its price is less than or equal to the expected loss ( i.e ≤ $14.5). With expected loss less than the price, taking the risk becomes more expensive than protection.
The expected number of customers per minute is less than 1, implying that the shop hardly gets clients. However, the data is positively skewed, implying that entrance is higher than the mean in most of the ...Download file to see next pagesRead More
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