QUESTION 44 Weekly sales have a mean of $1,800 and a standard deviation of $200. Weekly profits are calculated by multiplying sales by 50% and subtracting fixed costs of $400. Find the variance of weekly profits. O Var [Weekly profit] = $ -10,000 O Var [Weekly profit] = $ 6,400 O Var [Weekly profit] = $ 50 O Var [Weekly profit] = $ 10,000
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.
![QUESTION 44
Weekly sales have a mean of $1,800 and a standard deviation of $200. Weekly profits are calculated by multiplying sales by 50%
and subtracting fixed costs of $400. Find the variance of weekly profits.
Var [Weekly profit] = $ -10,000
Var [Weekly profit] = $ 6,400
O Var [Weekly profit] = $ 50
O Var [Weekly profit] = $ 10,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fce5febb7-d3d7-4c2f-8983-ba36bb85d089%2F4c31ab24-cc96-4802-b1b7-522a9254c867%2Fu3op67s_processed.jpeg&w=3840&q=75)
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