Answer:
The correct answer is:
(a) Mean = 170,
Standard deviation = 30
(b) 1700
Step-by-step explanation:
Given:
(a)
Mean of monthly expenses will be:
= [tex]\frac{\mu}{2}[/tex]
= [tex]\frac{2040}{2}[/tex]
= [tex]170[/tex]
Standard deviation will be:
= [tex]\frac{\sigma}{12}[/tex]
= [tex]\frac{360}{12}[/tex]
= [tex]30[/tex]
(b)
The total amount of monthly expenses will be:
= [tex]n\times \frac{\mu}{12}[/tex]
= [tex]100\times 170[/tex]
= [tex]1700[/tex]
