Dollar King store is planning on having a sale on school materials. They have 600 notebooks, 500 folders and 400 pens in stock, and they plan on packing it in two different forms. In the first package, there will be 2 notebooks, 1 folder and 2 pens, and in the second one, 3 notebooks, 1 folder and 1 pen. The price of each package will be $6.50 and $7.00 respectively. How many packages should they put together of each type to obtain the maximum benefit?
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
Dollar King store is planning on having a sale on school materials. They have 600 notebooks, 500 folders and 400 pens in stock, and they plan on packing it in two different forms. In the first package, there will be 2 notebooks, 1 folder and 2 pens, and in the second one, 3 notebooks, 1 folder and 1 pen. The price of each package will be $6.50 and $7.00 respectively. How many packages should they put together of each type to obtain the maximum benefit?
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
