Question

A lab orders a shipment of 100 rats a week for experiments that the lab conducts. Prices for each weekly shipment of rats follow the distribution below. Suppose the mean cost of the rats turned out to be $ 12.63 per week. Interpret this value.How much should the lab budget for the next year's rat orders assuming this distribution does not change. Find the expected price.

Answer 1

Explanation:

Weekly cost of shipping rats = $12.63/week.

Assume, 1 year have 52 weeks,

Price for the next year = 52 × 12.63

= 656.76

Therefore, the budget = $656.76

Answer 2

Therefore, the budget is 656.76$.

Explanation:

We know that a lab orders a shipment of 100 rats a week for experiments that the lab conducts. Suppose the mean cost of the rats turned out to be $ 12.63 per week. We calculate budget of a lab for the next year's.

We know that 1 year have 52 weeks. We get

52 · 12.63 = 656.76

Therefore, the budget is 656.76$.