Determine the probability that the revenue from the bar exceeded R1 300 on a particular day.
Determine the probability that the revenue from the bar exceeded R1 300 on a particular day.
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:Use the information provided below to answer questions 9 to 11.
A Cape Town-based restaurant has three sources of revenue: eat-in orders, take-out orders and a bar. The daily
revenue from each source is normally distributed with mean and standard deviation shown in Table 2, below:
Source
Eat-in
Take-out
Bar
Question 9
Table 2: The means and standard deviations of revenues across the three sources.
A 0.3051
B 0.6949
C 0.8051
D 0.1949
Question 10
Determine the probability that the revenue from the bar exceeded R1 300 on a particular day.
Mean
R11 560
R1 282
R1 424
A R11 574
B R13 915
C R12 027
D R11 093
Standard deviation
Question 11
R284
R156
R144
Determine the minimum amount spent on eat-in orders by the top 5 percent of spenders on a particular day.
A 0.0298
B 0.0191
C 0.0064
D 0.8118
Determine the probability that on a particular day, the restaurant generated revenues of exactly R11 699.16, R1 394.32 and
R1 596.80 from the eat-in orders, take-out orders and the bar respectively. Assume that the three revenue sources are
independent of each other.
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