Suppose that orders at a restaurant are iid (independent and identically distributed) random variables with mean $8 and standard deviation $2. Estimate the probability that the first 100 customers spend a total of more than $840. Estimate the probability that the first 100 customers spend a total of between $780 and $820. After how many orders can we be 90% sure that the total spent by all the customers is more than $1000.

Suppose that orders at a restaurant are iid (independent and identically distributed) random variables with mean $8 and standard deviation $2. Estimate the probability that the first 100 customers spend a total of more than $840. Estimate the probability that the first 100 customers spend a total of between $780 and $820. After how many orders can we be 90% sure that the total spent by all the customers is more than $1000.

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Description: Suppose that orders at a restaurant are iid (independent and identically distributed) random variables with mean $8 and standard deviation $2. Estimate the probability that the first 100 customers spend a total of more than $840. Estimate the probabi

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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