Hi, I would like an opinion on this statistics problem.Research has shown that the daily revenue (in thousands) of small businesses is a random variable X with median 5000, standard deviation 4000. Calculate:The probability that a business will have income greater than 4,000The probability that a business in the next 36 days will have an average income greater than 6,000If we take 5 businesses at random, then what is the probability that at most 2 of them have revenues greater than 4,000If we examine these 5 businesses consecutively, then what is the probability that only the 3rd one has revenues greater than 4,000?

Solution: Let X be the daily revenue (in thousands) of small business. From the given information, X…

Answered: Research has shown that the daily…

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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Hi, I would like an opinion on this statistics problem.

Research has shown that the daily revenue (in thousands) of small businesses is a random variable X with median 5000, standard deviation 4000. Calculate:

The probability that a business will have income greater than 4,000
The probability that a business in the next 36 days will have an average income greater than 6,000
If we take 5 businesses at random, then what is the probability that at most 2 of them have revenues greater than 4,000
If we examine these 5 businesses consecutively, then what is the probability that only the 3rd one has revenues greater than 4,000?

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