​The Daily Demand X for a Certain Product (In Hundreds

question 6

Multiple Choice

​The daily demand x for a certain product (in hundreds of pounds) is a random variable with the probability density function over the interval [0,6].Find the probability that x is within one standard deviation of the mean.Express your answer as a percent.Round to two decimal places. ​

• A) ​96.42%
• B) ​49.35%
• C) ​62.61%
• D) ​13.44%
• E) ​72.77%

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Definitions:

Population Parameter

A numerical characteristic or feature of an entire population, such as its mean or standard deviation.

Sampling Distributions

The distribution likelihood of a statistical value gathered from multiple samples from a given population.

Consistent Estimator

An attribute of an estimator indicating that as the sample size increases, the estimates it produces converge in probability to the parameter being estimated.

Sample Mean

The mean value derived from a dataset sample, utilized to predict the overall population's average.