Explanation Given Information: The table shows the monthly revenues of the product sales. Product Skin Creams Hair Products Mean Monthly Revenue ( $ ) 38 , 000 34 , 000 Standard deviation ( $ ) 21 , 000 14 , 000 Formula Used: If the mean and standard deviation of X with normal distribution are μ and σ , and Z is the standard normal variable, then the rule for probability is given by, P ( X ≤ b ) = P ( Z ≤ b − μ σ ) : Calculation: Consider the probability of selling skin cream P ( X ≥ 50 ) (in thousands of dollars) The expected value of skin cream is μ = 38 and σ = 21 . Evaluate the probability P ( X ≤ 12 ) by applying the formula P ( X ≤ b ) = P ( Z ≤ b − μ σ ) P ( X ≤ 12 ) = P ( Z ≤ 12 − 38 21 ) = P ( Z ≤ − 1

7th Edition

ISBN: 8220103612005

Author: Costenoble

Publisher: CENGAGE L

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Chapter 9, Problem 51RE

To determine

To calculate: The probability of selling skin creams less than $12,000 next month if the beauty products like skin cream and hair products are sold at OHaganBooks.com subsidiary, called GnuYou.com. The table shows the monthly revenues of the product sales.

Product Skin Creams Hair Products

Mean Monthly Revenue ($) 38,000 34,000

Standard deviation ($) 21,000 14,000

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Chapter 9, Problem 50RE

Chapter 9, Problem 52RE

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EBK FINITE MATH AND APPLIED CALCULUS

Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - Prob. 2E Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - Prob. 5E Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - Prob. 7E Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - In Exercises 110, classify the random variable X...Ch. 9.1 - In Exercises 110, classify the random variable X...

Ch. 9.1 - Prob. 11E Ch. 9.1 - Prob. 12E Ch. 9.1 - Prob. 13E Ch. 9.1 - Prob. 14E Ch. 9.1 - In Exercises 1118, (a) say what an appropriate...Ch. 9.1 - Prob. 16E Ch. 9.1 - In Exercises 1118, (a) say what an appropriate...Ch. 9.1 - Prob. 18E Ch. 9.1 - Prob. 19E Ch. 9.1 - Prob. 20E Ch. 9.1 - Prob. 21E Ch. 9.1 - Prob. 22E Ch. 9.1 - In Exercises 2128, give the probability...Ch. 9.1 - Prob. 24E Ch. 9.1 - Prob. 25E Ch. 9.1 - Prob. 26E Ch. 9.1 - Prob. 27E Ch. 9.1 - Prob. 28E Ch. 9.1 - 2010 Income Distribution up to $100,000 The...Ch. 9.1 - 2003 Income Distribution up to $100,000 Repeat...Ch. 9.1 - Prob. 31E Ch. 9.1 - Prob. 32E Ch. 9.1 - Prob. 33E Ch. 9.1 - Housing Prices Going into the Real Estate Bubble...Ch. 9.1 - Prob. 35E Ch. 9.1 - Prob. 36E Ch. 9.1 - Prob. 37E Ch. 9.1 - Prob. 38E Ch. 9.1 - Car Purchases To persuade his parents to...Ch. 9.1 - Prob. 40E Ch. 9.1 - Prob. 41E Ch. 9.1 - Prob. 42E Ch. 9.1 - Prob. 43E Ch. 9.1 - Prob. 44E Ch. 9.1 - Prob. 45E Ch. 9.1 - Prob. 46E Ch. 9.1 - Prob. 47E Ch. 9.1 - 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Product	Skin Creams	Hair Products
Mean Monthly Revenue ($)	38,000	34,000
Standard deviation ($)	21,000	14,000

Solution Summary: The author calculates the probability of selling skin creams less than 12,000 next month if the beauty products are sold at OHaganBooks.com subsidiary, called GnuYou.

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