4% of Trucks of a Certain Model Have Needed New

question 5

Multiple Choice

4% of trucks of a certain model have needed new engines after being driven between 0 and 100 kilometres.The manufacturer hopes that the redesign of one of the engine's components has solved this problem.

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Definitions:

Standard Deviation

Standard deviation measures the amount of dispersion or variability in a set of values, indicating how much the individual data points differ from the mean or average.

Utility Score

A numerical assessment that quantifies the satisfaction or utility an individual receives from making certain choices or consuming various goods and services.

Rate of Return

The increase or decrease in value of an investment over a set period, depicted as a percentage of the investment's starting cost.

Variance

A statistical measure that represents the dispersion of a set of data points or investment returns around their mean, indicating their spread or risk.