Multiple Choice
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Sales at a local wholesaler consist of both retail as well as online sales.During the course of a month,retail sales have a mean of $96,780 with a standard deviation of $12,520.Over the same time period,online sales average $229,620 with a standard deviation of $23,100.Assume that the retail sales are independent of online sales.
-A car owner determines that annual repair costs (R) can be estimated based on the number of miles driven in one year (M) through the expression R = 800 + 0.05M.If the average number of miles driven is 12000 with a standard deviation of 2500 miles,what is the standard deviation of the expected annual repair costs?
A) 1400
B) 925
C) 800
D) 125
Correct Answer:
Verified
Correct Answer:
Verified
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