Suppose the number of customers visitinga shoe store follows a Poisson process with arate of 85 per day. Assume 55 percent of cus-tomers make a purchase. The amount spentby a paying customer follows an exponentialdistribution with a mean of $105. The twodistributions are independent. What is thestandard deviation of the total sales per dayfor the shoe store?

Answered: Image /qna-images/answer/aaf7e7a4-2da3-44cd-baa6-1259592cdde0.jpg

Answered: Suppose the number of customers…

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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According to a recent survey, the salaries of assistant professors have a mean of $41,750 and a standard deviation of $7000. Assuming that the salaries of assistant professors follow a normal distribution, find the proportion of assistant professors who earn at least $45,000. Round answer to at least 4 decimal places.
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