Question

In: Statistics and Probability

A trucking company has been requested to quote a realistic turn-around time for a contract to...

A trucking company has been requested to quote a realistic turn-around time for a contract to handle the distribution of a certain product to supermarkets around the country. The company provided the following turn-around times for distributing similar goods over a given twelve month period.

Turn-around times in days

Frequency

Less than 2 days

25

2 but less than 4 days

36

4 but less than 6 days

66

6 but less than 8 days

47

8 but less than 10 days

26

10 but less than 12 days

18

12 but less than 14 days

2

(a) Calculate the mean turn-around time. [3 marks]

(b) Calculate the standard deviation of the turn-around time. [3 marks]

(c) Calculate the median turn-around time.

Solutions

Expert Solution

Let X= turn around time

Given table can be written as:

Interval f X=mid value of interval X.f X2*f cf
0-2 25 1 25 25 25
2-4 36 3 108 324 61
4-6 66 5 330 1650 127
6-8 47 7 329 2303 174
8-10 26 9 234 2106 200
10-12 18 11 198 2178 218
12-14 2 13 26 338 220
SUM 220 1250 8924

From the above table we have following:


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