Normal Distribution Problem - College of Business at Bradley University in Peoria, Illinois
Not what you're looking for?
A study by professors in the College of Business at Bradley University in Peoria, Illinois, revealed that the response time to 911 emergency calls was 4.8 minutes, with a standard deviation of 1.2 minutes. It was assumed that response times were normally distributed. The mayor of Peoria wanted to reduce mean response time enough so that 40 percent of all calls were answered within 3.5 minutes.
It was estimated that the cost of patrol cars, fire units, and personnel would be $575,000 for every reduction of 30 seconds. The necessary revenue was to be raised by a property tax. However, the mayor felt that the tax burden should be borne only by those homes above $70,000 in assessed value. Homes average $45,000 in value, with a standard deviation of $15,110. The mayor felt that an average of an additional $96 could be raised for each home in Peoria over $70,000. There are 42,000 homes in the Peoria city limits. Based on these constraints, is her plan feasible?
Purchase this Solution
Solution Summary
The solution determines if a plan for the College of Business at Bradley University in Peoria is feasible.
Solution Preview
In this problem, we are to find out the mean so that 40% of calls are answered within 3.5 minutes (standard deviation assumed to be 1.2mins and does not change)
Z value for 40% = -0.25335 (from normal tables)
We have -0.25335 = (3.5 - ...
Education
- BE, Bangalore University, India
- MS, University of Wisconsin-Madison
Recent Feedback
- "Your explanation to the answers were very helpful."
- "What does 1 and 0 means in the repair column?"
- "Went through all of the formulas, excellent work! This really helped me!"
- "try others as well please"
- "Thank you, this helped a lot. I was not sure how to plug in those numbers to a formula. This was a great help. Now I have to figure out how to explain cost of capital is used in net present value analysis, and how cost of capital is used in net present value analysis. This stuff gets confusing."
Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.