Chapter 06, Section 6.4, Problem 041The management of a supermarket wants to adopt a new promotional policy of giving a free gift to every customer who spends more than a certain amount per visit at this supermarket. The expectation of the management isthat after this promotional policy is advertised, the expenditures for all customers at this supermarket will be normally distributed with a mean of $80 and a standard deviation of $19. If the management wants to give freegifts to at most 9.85% of the customers, what should the amount be above which a customer would receive a free gift?Round your answer to two decimal places.A customer should spend at least $the tolerance is +/-5%to receive a free gift.

Answered: Image /qna-images/answer/56d87b13-5882-4392-ac42-7586ec3e5b85.jpg

Answered: Chapter 06, Section 6.4, Problem 041…

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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Risk taking is an important part of investing. In order to make suitable investment decisions on behalf of their customers, portfolio managers give a questionnaire to new customers to measure their desire to take financial risks. The scores on the questionnaire are approximately normally distributed with a mean of 51 and a standard deviation of 15 . The customers with scores in the bottom 10% are described as "risk averse." What is the questionnaire score that separates customers who are considered risk averse from those who are not? Carry your intermediate computations to at least four decimal places. Round your answer to one decimal place.
Based on predictive modeling, this upcoming Winter is going to have very unpredictable weather. The National Weather service is considering abolishing specific long-term forecasts, and instead will utilize a statistical model that predicts a mean of six significant snowfalls per month. Use this information to answer the following question correctly: Trying to be forward-thinking, I'm going to try planning my one month long Winter Break based around this model's predictions. I will only travel for the holidays if there is at most one significant snowfall over winter break. What is the probability of this happening? O 0.0174 O 0.0149 O 0.0025 O 0.0542
Risk taking is an important part of investing. In order to make suitable investment decisions on behalf of their customers, portfolio managers give a questionnaire to new customers to measure their desire to take financial risks. The scores on the questionnaire are approximately normally distributed with a mean of 50.5 and a standard deviation of 16. The customers with scores in the bottom 5% are described as "risk averse. What is the questionnaire score that separates customers who are considered risk averse from those who ar not? Carry your intermediate computations to at least four decimal places. Round your answer to one decimal place. U Continue X S Submit Terms of Use | Privacy Center
Risk taking is an important part of investing. In order to make suitable investment decisions on behalf of their customers, portfolio managers give a questionnaire to new customers to measure their desire to take financial risks. The scores on the questionnaire are approximately normally distributed with a mean of 50 and a standard deviation of 14. The customers with scores in the bottom 15% are described as "risk averse." What is the questionnaire score that separates customers who are considered risk averse from those who are not? Carry your intermediate computations to at least four decimal places. Round your answer to one decimal place.
3. ACT scores are roughly Normal with mean 20.8 and standard deviation 4.8, and SAT scores are roughly Normal with mean 1026 and standard deviation 209. Some students take both. For those students, the correlation between the two scores is 0.72. a. What's the equation of the straight line that you'd use to predict ACT scores based on SAT scores? b. I got a 1300 on the SAT, and I'm planning to take the ACT. Predict what I might get, c. What's the equation of the straight line that you'd use to predict SAT scores based on ACT scores? d. My friend got a 27 on the ACT, and she's planning to take the SAT. Predict what she might get. e. How come you're predicting both that I'll do worse than her on the ACT and that she will do worse than me on the SAT? 4. Draw a simple random nlc of size 15 from the labels 40os01, 402.
Does it seem to you that people tend to be absent more on some days of the week than on others? Recently, a major biotechnology firm collected data with the hope of determining whether or not its employees were more likely to be absent on some weekdays than on others. The firm examined a random sample of 130 employee absences. The distribution of these 130 absences is shown in the table below. The observed frequency for each category (each weekday) is shown in the first row of numbers. The second row of numbers contains the frequencies expected for a sample of 130 employees if employee absences at the firm are equally likely on each of the five weekdays. The bottom row of numbers contains the following value for each of the categories.
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Does it seem to you that people tend to be absent more on some days of the week than on others? Recently, a major biotechnology firm collected data with the hope of determining whether or not its employees were more likely to be absent on some weekdays than on others. The firm examined a random sample of 110 employee absences. The distribution of these 110 absences is shown in the table below. The observed frequency for each category (each weekday) is shown in the first row of numbers. The second row of numbers contains the frequencies expected for a sample of 110 employees if employee absences at the firm are equally likely on each of the five weekdays. The bottom row of numbers contains the following value for each of the categories. (fo-fE) (Observedrequency Expectedrequency JE Part 1 Fill in the missing values in the table. Round your responses for the expected frequencies to two or more decimal places. 2 Round your responses to three or more decimal places. (SO-SE)² SE Send data…
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