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Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin
Edition 7ISBN: 978-0073376301Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin
Edition 7ISBN: 978-0073376301 Exercise 5
A survey of households included a question about the number of operating automobiles N currently owned by people living at the residence and the interest rate i on the lowest-rate loan for the cars. The results for 100 households are shown. 
a) State whether each variable is discrete or continuous.
b) Plot the probability distributions and cumulative distributions for N and i.
c) From the data collected, what is the probability that a household has 1 or 2 cars Three or more cars
d) Use the data for i to estimate the chances that the interest rate is between 7% and 11% per year.
a) State whether each variable is discrete or continuous.
b) Plot the probability distributions and cumulative distributions for N and i.
c) From the data collected, what is the probability that a household has 1 or 2 cars Three or more cars
d) Use the data for i to estimate the chances that the interest rate is between 7% and 11% per year.
Explanation
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Discrete variables are those variables w...
Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin
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