LAHORE SCHOOL OF ECONOMICS

WINTER 2021- BSC/BBA I

STATISTICS I
ASSIGNMENT 17

1. The waiting time at a train station is between 0 and 15 minutes. If the waiting time
follows the uniform distribution,
a. Draw this distribution and show that the total area under the curve is 1.
b. What is the mean and Standard Deviation of this uniform distribution.
c. What is the probability that you will wait less than 5 minutes?

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2. A statistics instructor collected data on the time it takes the students to complete a test. The test
taking time is uniformly distributed within a range of 35 minutes to 55 minutes.

a. Determine the height and draw this uniform distribution.

b. How long does the typical test taking time?

b.

c. Determine the standard deviation of the test taking time.

c.

d. What is the probability a particular student will take less than 45 minutes?

d.

e. What is the probability a particular student will take between 45 and 50 minutes?

e.

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 3.  A major credit card company has determined that customers charge between $100 and
$1100 per month. Given that the average monthly amount charged is uniformly
distributed, answer the following questions.
a.  What is the average monthly amount charged?

b. What is the standard deviation of the monthly amount charged?

c. What percent of monthly charges are equal to $500?

d. What percent of monthly charges are between $600 and $889?

e. What percent of monthly changes are between $311 and $889?

f. What percent of monthly charges is less then $100?

g. What percent of monthly charges are between $100 and $1100?

h. What is the probability that a person charges less than $200 per month?

i. What is the 3rd quartile of the distribution?

j. 75% of all monthly charges are greater than ______________? 

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 4. A financial advising company has determined that the price-to-earnings ratios for 20
randomly selected publicly traded companies range between 0.9 and 2.9. Given that the
price-to-earnings ratios are uniformly distributed, answer the following questions.
 

a. What is the average price-to-earnings ratio?

b. What is the standard deviation of the price-to-earnings ratio?

c. What percent of price-to-earnings ratios are equal to 2.58?

d. What percent of price-to-earnings ratios are between 1.90 and 2.48?

e. What percent of price-to-earnings ratios are between 1.32 and 2.48?

f. What percent of price-to-earnings ratios are less than 0.9?

g. What percent of price-to-earnings ratios are between .9 and 2.9?

h. What is the probability that a price-to-earnings ratio is less than 2.1?

i. What is the 3rd quartile of the distribution?

j. 75% of all price-to-earnings ratios are greater than