2. The management of a supermarket wants to adopt a new promotional policy of giving a free giftto every customer who spends more than a certain amount per visit at this supermarket. Theexpectation of the management is that after this promotional policy is advertised, theexpenditures for all customers at this supermarket will be normally distributed with a mean of$110 and a standard deviation of $20. If the management decides to give free gifts to all thosecustomers who spend more than $150 at this supermarket during a visit, what percentage of thecustomers are expected to get free gifts?

Expenditure for all customers at this supermarket are normally distributed with a mean 110 and a…

Answered: The management of a supermarket wants…

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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Risk taking is an important part of investing. In order to make suitable investment decisions on behalf of their customers, portfolio managers give a questionnaire to new customers to measure their desire to take financial risks. The scores on the questionnaire are approximately normally distributed with a mean of 51 and a standard deviation of 15 . The customers with scores in the bottom 10% are described as "risk averse." What is the questionnaire score that separates customers who are considered risk averse from those who are not? Carry your intermediate computations to at least four decimal places. Round your answer to one decimal place.

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