The net weekly sales for a small business follows a normal distribution with a mean of...
The net weekly sales for a small business follows a normal distribution with a mean of 586 dollars and standard deviation of 115 dollars.
Calculate each of the following.
In each case, round your response to at least 4 decimal places.
a) What is the probability that in a randomly selected day, the business will do no more than 604 dollars in net sales?
b) Suppose 18 days are randomly selected. What is the probability that the average net sales the business will do is at least 566 dollars?
c) What is the probability that for 18 randomly selected days, the business will have a mean net sales between 571 dollars and 641 dollars?
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The net weekly sales for a small business follows a normal
distribution with a mean of...
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean a...
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 131000 dollars. Assume the standard deviation is 36000 dollars. Suppose you take a simple random sample of 73 graduates. Do not use probability tables to find the probabilities below as they may not be accurate enough. Find the probability that a single randomly selected salary is at least 126000 dollars....
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of...
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Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 131000 dollars. Assume the standard deviation is 36000 dollars. Suppose you take a simple random sample of 73 graduates. Do not use probability tables to find the probabilities below as they may not be accurate enough. Find the probability that a single randomly selected salary is at least 126000 dollars....
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