Consumer Banker Association released a report showing the

Last updated: 11/27/2023

Consumer Banker Association released a report showing the lengths of automobile leases for new automobiles The results are as follows Lease Length in Months Percent of Leases 13 24 14 8 36 7 25 36 37 48 27 7 49 60 20 5 0 3 More than 60 a Use the midpoint of each class and call the midpoint of the last class 66 5 months for purposes of computing the expected lease term Also find the standard deviation of the distribution Round your answers to two decimal places expected lease term standard deviation 36 93 5 84 X months X b Sketch a graph of the probability distribution for the duration of new auto leases