Assume that the traffic to the web site of Smiley’s People, Inc., which sells customized T-shirts, follows a normal distribution, with a mean of 4.48 million visitors per day and a standard deviation of 800,000 visitors per day. (a)What is the probability that the web site has fewer than 5 million visitors in a single day? If needed, round your answer to four decimal digits. (b)What is the probability that the web site has 3 million or more visitors in a single day? If needed, round your answer to four decimal digits. (c)What is the probability that the web site has between 3 million and 4 million visitors in a single day? If needed, round your answer to four decimal digits. (d)Assume that 85% of the time, the Smiley’s People web servers can handle the daily web traffic volume without purchasing additional server capacity. What is the amount of web traffic that will require Smiley’s People to purchase additional server capacity? If needed, round your answer to two decimal digits. million visitors per day

Mean, μ=4.4 million visitors per day standard Deviation, σ=800,000 visitors per day = 0.8 million…

Answered: a) What is the probability that the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Assume that the traffic to the web site of Smiley’s People, Inc., which sells customized T-shirts, follows a normal distribution, with a mean of 4.48 million visitors per day and a standard deviation of 800,000 visitors per day.

(a)	What is the probability that the web site has fewer than 5 million visitors in a single day? If needed, round your answer to four decimal digits.

(b)	What is the probability that the web site has 3 million or more visitors in a single day? If needed, round your answer to four decimal digits.

(c)	What is the probability that the web site has between 3 million and 4 million visitors in a single day? If needed, round your answer to four decimal digits.

(d)	Assume that 85% of the time, the Smiley’s People web servers can handle the daily web traffic volume without purchasing additional server capacity. What is the amount of web traffic that will require Smiley’s People to purchase additional server capacity? If needed, round your answer to two decimal digits.
	million visitors per day

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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