### Problem Statement:A waitress believes the distribution of her tips has a model that is slightly skewed to the right, with a mean of $10.40 and a standard deviation of $4.10. She usually waits on about 60 parties over a weekend of work.#### Questions:a) Estimate the probability that she will earn at least $700.b) How much does she earn on the best 1% of such weekends?### Solution Steps:- For part (a), calculate the probability that the sum of tips from 60 parties exceeds $700. You would typically use a statistical method or a normal approximation to find this probability because the total tip amount is a sum of a large number of independent, identically distributed random variables.- For part (b), calculate the tip amount corresponding to the top 1% of weekends. This involves determining the 99th percentile of the total distribution of tips over the weekends the waitress waits on 60 parties.### Answer for part (a):- Use the placeholder to input the calculated probability, rounded to four decimal places.\[ \text{a) P(tips from 60 parties > \$700) = } \boxed{\phantom{0}} \]Please fill in the box with the appropriate probability calculation.

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Answered: A waitress believes the distribution of…

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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