The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was observed over a long period of time to be approximately normally distributed, with mean = $613 and standard deviation a = $46. LUSE SALT (a) If $646 is budgeted for next week, what is the probability that the actual costs will exceed the budgeted amount? (Round your answer to four decimal places.) (b) How much should be budgeted for weekly repairs, cleaning, and maintenance so that the probability that the budgeted amount will be exceeded in a given week is only 0.11? (Round your answer to the nearest dollar.) $

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
100%
The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was observed over a long
period of time to be approximately normally distributed, with mean µ = $613 and standard deviation σ = $46.
LUSE SALT
(a) If $646 is budgeted for next week, what is the probability that the actual costs will exceed the budgeted
amount? (Round your answer to four decimal places.)
(b) How much should be budgeted for weekly repairs, cleaning, and maintenance so that the probability that the
budgeted amount will be exceeded in a given week is only 0.11? (Round your answer to the nearest dollar.)
$
Transcribed Image Text:The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was observed over a long period of time to be approximately normally distributed, with mean µ = $613 and standard deviation σ = $46. LUSE SALT (a) If $646 is budgeted for next week, what is the probability that the actual costs will exceed the budgeted amount? (Round your answer to four decimal places.) (b) How much should be budgeted for weekly repairs, cleaning, and maintenance so that the probability that the budgeted amount will be exceeded in a given week is only 0.11? (Round your answer to the nearest dollar.) $
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman