A grocery store's receipts show that Sunday customer purchases have a skewed distribution with a mean of $34 and a standard deviation of $19. Suppose the store had 318 customers this Sunday.a) Estimate the probability that the store's revenues were at least $10,900.b) If, on a typical Sunday, the store serves 318 customers, how much does the store take in on the worst 1% of such days?

Given Mean=34 Standard deviations=19

Answered: A grocery store's receipts show that…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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3. The finish times for marathon runners during a race are normally distributed with a mean of 195 minutes and a standard deviation of 25 minutes. What is the probability that a runner will complete the marathon within 180 minutes?
A different investor decides to invest $8000 in Fund A and $3000 in Fund B. Assuming the amounts gained by the two funds are independent, what are the mean and standard deviation of the amount gained by this investment in the first month?
One in ten adults in a city visited a doctor last month. If a sample of 6 adults is selected randomly, i. Find the probability that exactly 4 adults visited the doctor? ii. Find the probability that at least 2 adults visited the doctor? iii. Find the mean and the standard deviation for the number of adults not visited the doctor.
A report claimed that children between the ages of 2 and 5 watch an average of 25 hours of television per week. Assuming the variable is normally distributed and the standard deviation is 3 hours. If 40 children between the ages of 2 and 5 are randomly selected, find the probability that the mean of the number of hours they watch television will be greater than 26.3 hours.
The Greenville Power Authority states that the mean monthly energy bill for their customers is $228 with a standard deviation of $38. They know that energy bills follow a normal distribution. a. Between what two values do we expect 99.7% of energy bill’s to fall? b. What is the probability of a randomly selected energy bill at least $190?
One year, the distribution of salaries for professional sports players had a mean of $1.6 million and a standard deviation of $0.7 million. Suppose a sample of 100 major league players was taken. Find the approximate probability that the average salary of the 100 players that year exceeds $1.1 million.
Suppose Michigan is favored by 17.5 points over Indiana. If you bet a “unit” on Indiana and Indiana loses by 17 or less, you win $10. If Indiana loses by 18 or more points, you lose $11. Note: Both Michigan and Indiana are NCAA Basketball teams. 1)Find the mean and standard deviation of your winnings on a single bet. Assume that there is a 0.5 probability that you will win your bet and a 0.5 probability that you will lose your bet.
Two gamblers bet $1 each on the successive tosses of a coin: i.e., at each coin toss, player 1 pays $1 to player 2 if the coin shows ‘Heads’, and player 2 pays $1 to player 1 if the coin shows ‘Tails’. What is the mean and the standard deviation of the total winnings (measured in $, winnings can be negative) of player 1 after 6 tosses?
e) Suppose that weekly household expenditures on petrol are normally distributed, with a mean of $120 and a standard deviation of $50. i. A family is randomly selected. Find the probability that this family spends more than $245 per week on petrol? A 2.5 B 0.0062 C 0.9938 D 0.0202 ii. The government wants to promote public transport and will award a prize to the families who spend the lowest amount on petrol. If the government only wants to give a prize to 10% of households, what is the most that a family is allowed to spend on petrol each week to obtain the prize? A $56 B $184 C $3.50 D $217.60 In a sample of 25 families, what is the probability that the average weekly expenditure on petrol will be less than $105? ii. A 0.0668 B 0.9332 C 0.3821 D 0.6179
Solve Q3 correctly and clear
A waiter believes the distribution of his tips has a model that is slightly skewed to the right, with a mean of $8.50 and a standard deviation of $4.60. a) Explain why you cannot estimate the probability that the next 4 parties will tip an average of at least $15.b) On an average weekend, he serves 40 tables. Estimate the probability that he will earn at least $10.50 per table on such weekends (or at least $420 per weekend)
The probability that a person catches a cold during the cold and flu season Is 0.4. Assume that 10 people are chosen at random. What is the standard deviation for the number of people catching a cold?

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