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A hamburger franchise is planning to build a new outlet in Phoenix. They use a triangular...

A hamburger franchise is planning to build a new outlet in Phoenix. They use a triangular distribution to model the future weekly sales. They estimate that the minimum weekly sales is $1000 and the maximum is $6000. They also estimate that the most likely weekly sales figure is $3000. What is the probability that the weekly sales exceeds $4500? Express your answer to THREE decimal places.

Math   Statistics-And-Probability   
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Answer #1

The Probability distribution of Triangular distribution is

The minimum weekly sales is $1000 and the maximum is $6000. The estimate of the most likely weekly sales figure is $3000.

What is the probability that the weekly sales exceeds $4500?

=Area of the shaded triangle

Area of the triangle = 1/2 base * altitude

In thi case base = 6000-4500=1500

Altitude=

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