A grocery store's receipts show that Sunday customer purchases have a skeweddistribution with a mean of $34 and a standard deviation of $20. Suppose the storehad 314 customers this Sunday.a) Estimate the probability that the store's revenues were at least $10,800.b) If, on a typical Sunday, the store serves 314 customers, how much does thestore take in on the worst 1% of such days?

For the distribution of the grocery purchase, the parameters are specified as follows:The mean,…

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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Similar questions

Suppose that the monthly charges for cell phone plans in the United States are normally distributed with a mean of $93 and a standard deviation of $19. What is the probability that any one cell phone user has a monthly plan that exceeds $76? Round your answer to at least three decimal places.
Suppose the average credit card debt for Americans is $7000 and is not normallydistributed with a standard deviation of $2400. If we sample 40 Americans, find the probabilitythat the sample mean of credit card debt is less than $6500.
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)
Solve the problem.Assume that male Siberian huskies' weights are normally distributed with a mean of 63.6 pounds and a standard deviation of 2.5 pounds. If 90 male Siberian huskies are randomly selected, find the probability that they have a mean weight between 62.9 pounds and 64.0 pounds.

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