3) What is a probability of selecting a customer whose expenditure is differ than the population mean expenditure by at most 50 £? 4) In a sample of 49 customers, what are the number of customers whose mean expenditure is at least 410 £? 5) What is the probability that the expenditure of the first customer exceeds the expenditure of the second customer by at least 20 £?
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
The management of a supermarket wants to adopt a new promotional policy of
giving free gift to every customer who spends more than a certain amount per
visit at this supermarket. The expectation of the management is that after this
promotional policy is advertised, the expenditure for all customers at this
supermarket will be
£2.
1) If the management wants to give free gifts to at most 10% of the
customers, what should the amount be above which a customer would
receive a free gift?
2) In a sample of 100 customers, what are the number of customers whose
expenditure is between 420 £ and 485 £?
3) What is a
than the population mean expenditure by at most 50 £?
4) In a sample of 49 customers, what are the number of customers whose
mean expenditure is at least 410 £?
5) What is the probability that the expenditure of the first customer exceeds
the expenditure of the second customer by at least 20 £?
please answer number 3 and 5
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