a) If a store runs out of advertised material during a sale,customers become upset, and the firm loses not only the sale, butalso goodwill. From past experience, a record store finds that themean number of albums sold in a sale is 845, the variance is 225,and that a histogram of the demand appears mound shaped. Themanager is willing to accept a 2.5% chance that an album will besold out. About how many albums should the manager order for anupcoming sale? b) The yield of a variety ofwheat was measured on a series of small plots. The 2nd and 98thpercentile was found to be 29 bushels/acre and 41 bushels/acrerespectively. What is the standard deviation (bushels/acre)?
a) If a store runs out of advertised material during a sale,customers become upset, and the firm loses not only the sale, butalso goodwill. From past experience, a record store finds that themean number of albums sold in a sale is 845, the variance is 225,and that a histogram of the demand appears mound shaped. Themanager is willing to accept a 2.5% chance that an album will besold out. About how many albums should the manager order for anupcoming sale? b) The yield of a variety ofwheat was measured on a series of small plots. The 2nd and 98thpercentile was found to be 29 bushels/acre and 41 bushels/acrerespectively. What is the standard deviation (bushels/acre)?
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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a) If a store runs out of advertised material during a sale,customers become upset, and the firm loses not only the sale, butalso goodwill. From past experience, a record store finds that themean number of albums sold in a sale is 845, the variance is 225,and that a histogram of the demand appears mound shaped. Themanager is willing to accept a 2.5% chance that an album will besold out. About how many albums should the manager order for anupcoming sale?
b)
The yield of a variety ofwheat was measured on a series of small plots. The 2nd and 98thpercentile was found to be 29 bushels/acre and 41 bushels/acrerespectively. What is the standard deviation (bushels/acre)?
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VIEWStep 2: Determine the number of albums manager should order for an upcoming sale.
VIEWStep 3: Construct two equations using the values of 2nd and 98th percentile.
VIEWStep 4: Solve equation (1) and (2) to determine the value of standard deviation.
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