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.

Expert Solution

Let X= turn around time

Given table can be written as:

Interval	f	X=mid value of interval	X.f	*X²f**	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:

orchestra answered 2 years ago

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