• The manager of a children's puppet theater has determined that the number of tickets he sells for a Saturday afternoon show is a random variable (T) with a mean of 32.7 and a standard deviation of 4.9 tickets. The tickets sell for $12. Let M = the money he collects from tickets on a random Saturday. (M = 12T) What are the mean and standard deviation of M? (Round to hundredths place. Do not use units in answer.) • Mean of M = • Standard Deviation of M = It costs $125 for the manager to put on each show. Let P = profit from a random Saturday's show. So P = M – 125. What are the mean and standard deviation of P? (Round to hundredths place. Do not use units in answer.) • Mean of P = Standard Deviation of P = Assuming the probability distribution of P (profit) is normally distributed, what is the probability the profit for the show is greater than $200? (Round to hundredths place. Write as a decimal - not percentage.) • P(profit > 200) =

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
• The manager of a children's puppet theater has determined that the number of tickets he sells for a Saturday afternoon show is a random variable
(T) with a mean of 32.7 and a standard deviation of 4.9 tickets.
The tickets sell for $12. Let M = the money he collects from tickets on a random Saturday. (M = 12T) What are the mean and standard deviation of
M? (Round to hundredths place. Do not use units in answer.)
• Mean of M =
• Standard Deviation of M =
It costs $125 for the manager to put on each show. Let P = profit from a random Saturday's show. So P = M – 125. What are the mean and standard
deviation of P? (Round to hundredths place. Do not use units in answer.)
• Mean of P =
• Standard Deviation of P =
Assuming the probability distribution of P (profit) is normally distributed, what is the probability the profit for the show is greater than $200? (Round to
hundredths place. Write as a decimal - not percentage.)
P(profit > 200) =
Transcribed Image Text:• The manager of a children's puppet theater has determined that the number of tickets he sells for a Saturday afternoon show is a random variable (T) with a mean of 32.7 and a standard deviation of 4.9 tickets. The tickets sell for $12. Let M = the money he collects from tickets on a random Saturday. (M = 12T) What are the mean and standard deviation of M? (Round to hundredths place. Do not use units in answer.) • Mean of M = • Standard Deviation of M = It costs $125 for the manager to put on each show. Let P = profit from a random Saturday's show. So P = M – 125. What are the mean and standard deviation of P? (Round to hundredths place. Do not use units in answer.) • Mean of P = • Standard Deviation of P = Assuming the probability distribution of P (profit) is normally distributed, what is the probability the profit for the show is greater than $200? (Round to hundredths place. Write as a decimal - not percentage.) P(profit > 200) =
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Similar questions
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