A Lab Orders a Shipment of 100 Rats a Week $$\begin{array} { l | c c c } \text { Price } & \$ 10.00 & \$ 12.50 & \$ 15.00 \\\hline \text { Probability } & 0.2 & 0.3 & 0.5\end{array}$$

question 91

Multiple Choice

A lab orders a shipment of 100 rats a week, 52 weeks a year, from a rat supplier for experiments that the labconducts. Prices for each weekly shipment of rats follow the distribution below: $$\begin{array} { l | c c c } \text { Price } & \$ 10.00 & \$ 12.50 & \$ 15.00 \\\hline \text { Probability } & 0.2 & 0.3 & 0.5\end{array}$$ How much should the lab budget for next yearʹs rat orders assuming this distribution does not change. (Hint:find the expected price.)

• A) $689.00
• B) $13.25
• C) $1325.00
• D) $3,582,800.00

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Definitions:

Correlation Coefficient

A numerical measure that indicates the extent to which two variables fluctuate together, showing the strength and direction of a relationship.

Scatter Plot

A type of graphical representation displaying values for typically two variables for a set of data, showing the relationship between them.

Operational Definition

A clear, concise detailed definition of a measure or variable within a study, used to ensure consistency and replicability in research.

Procedures

A series of actions conducted in a certain order or manner to achieve a result or carry out a task.