Question

Week # Revenue Print Ad TV Ad

1 $20,000 $ 3,100 $ 4,100

2 $22,000 $ 2,600 $ 4,200

3 $18,000 $ 2,800 $ 4,500

4 $21,000 $ 3,300 $ 4,300

5 $20,500 $ 3,100 $ 4,000

6 $19,000 $ 2,900 $ 3,700

7 $17,500 $ 2,500 $ 3,500

8 $21,225 $ 2,800 $ 3,600

9 $23,148 $ 3,000 $ 4,100

10 $22,865 $ 3,100 $ 4,400

11 $18,596 $ 2,600 $ 3,700

12 $17,432 $ 2,500 $ 3,100

Using the given data as a basis, determine the probabilities that during the next 12 weeks revenue will exceed $20,000, print ad will exceed $3,000 and TV ad will exceed $4,000.

Answer 1

using minitab

Descriptive Statistics: revenue, print add, tv add

Variable Mean StDev Variance Sum
revenue 20106 2012 4050094 241266
print add 2858.3 267.8 71742.4 34300.0
tv add 3933 416 173333 47200

P(x > 20000) = :

= P(z > -0.05268)

P(x > 20000) = 0.521 (using z table )

probabilities that during the next 12 weeks revenue will exceed $20,000 is 0.521

P(x > 3000) =

=  0.2984

probabilities that during the next 12 weeks print ad will exceed $3,000 is 0.2984

P(x > 4000) =

= = 0.436

probabilities that during the next 12 weeks  TV ad will exceed $4,000 is 0.436