Question

A grocery store's receipts show that Sunday customer purchases have a skewed distribution with a mean of $30 and a standard deviation of $18. Suppose the store had 316 customers this Sunday. a) Estimate the probability that the store's revenues were at least $10 comma 100. b) If, on a typical Sunday, the store serves 316 customers, how much does the store take in on the worst 1% of such days? Also if you know which program to use on a Ti-83 for these questions please let me know!

Answer #1

a)

expected value of 316 customers =316*30 =9480

and standard deviation =18*sqrt(316)=319.975

for normal distribution z score =(X-μ)/σx |

probability that the store's revenues were at least 10000:

probability
=P(X>10000)=P(Z>(10000-9480)/319.975)=P(Z>1.63)=1-P(Z<1.63)=1-0.9479=0.0521 |

(

if using ti-84 press 2nd -vars -use command
:normalcdf(10000,1000000,9480,319.975)) |

b)

for 1th percentile critical value of z= | -2.33 | ||

therefore corresponding value=mean+z*std deviation= |
8735.63 |

(for ti-84 : 2nd -vars -command : invnorm(0.01,9480,319.975)

A grocery store's receipts show that Sunday customer purchases
have a skewed distribution with a mean of $31 and a standard
deviation of $22. Suppose the store had 297 customers this
Sunday.
a) Estimate the probability that the store's revenues were at
least $9 comma 800.
b) If, on a typical Sunday, the store serves 297 customers,
how much does the store take in on the worst 10% of such
days?

A grocery store's receipts show that Sunday customer purchases
have a skewed distribution with a mean of $31 and a standard
deviation of $21. Suppose the store had 318 customers this Sunday.
a) Estimate the probability that the store's revenues were at
least $10 comma 600. b) If, on a typical Sunday, the store
serves 318 customers, how much does the store take in on the worst
1% of such days?

A grocery? store's receipts show that Sunday customer purchases
have a skewed distribution with a mean of $31 and a standard
deviation of $21. Suppose the store had 292 customers this
Sunday.
?a) Estimate the probability that the? store's revenues were at
least $9,500.
?b) If, on a typical? Sunday, the store serves 292 customers,
how much does the store take in on the worst 10?% of such?
days?

A grocery store's receipts show that Sunday customer purchases
have a skewed distribution with a mean of $29 and a standard
deviation of $20. Suppose the store had 293 customers this
Sunday.
a) Estimate the probability that the store's revenues were at
least $9,100.
b) If, on a typical Sunday, the store serves 293 customers,
how much does the store take in on the worst 10% of such
days?

A grocery store's receipts show that Sunday customer purchases
have a skewed distribution with a mean of $32 and a standard
deviation of $24. Suppose the store had 305 customers this Sunday.
a) Estimate the probability that the store's revenues were at
least $10 comma 000. b) If, on a typical Sunday, the store
serves 305 customers, how much does the store take in on the worst
10% of such days? a) The probability is... (Round to four
decimal places...

A
grocery store’s reciepts show that Sunday customer purchases bave a
skewed distribution with a mean of $34 and a standard deviation of
$22. Suppose the store had 292 customers this Sunday.
a.) Estimate the probability that the store’s revenues were at
least $10,200 (round to four decimal places as needed)
b.) The store takes in at most $_____
(round to two decimal places as needed)
for
b.)
If on a typical sunday, the store serves 292 customers, how
much...

A
grocery store’s reciepts show that Sunday customer purchases have a
skewed distribution with a mean of $32 and a standard deviation of
$20. Complete parts a through c below.
-Multiple choice-
1.) Explain why you cannot determime the probability that the
next Sunday customer will spend at least $40.
a.) The probability can only be determimed if the point is
less than one standard deviation away from the mean
b.) The probability can only be determimed if the point...

1. Hoping to lure more shoppers downtown, a city builds a new
public parking garage in the central business district. The city
plans to pay for the structure through parking fees. For a random
sample of 42 weekdays, daily fees collected averaged $133, with
standard deviation of $16.
- Find a 95% confidence interval for the mean daily income
this parking garage will generate.
The 95% confidence interval for the mean daily income is
2. A grocery store's receipts show...

Grocery store receipts show that customer purchases have a
normaldistribution with a mean of $32 and standard deviation of
$20. a) If someone’s spends one standard deviation below the mean,
how much did they spend? b) Find the 90thpercentile of purchases.c)
Find the probability that a random customer spends more than $35.
D).Find the probability that the next 50 customers will spend at
least $35 on average.

Review the Robatelli's Pizzeria Case Study. Develop another
internal controls system, but this time, in the purchases and fixed
assets business areas. Prepare a 12- to 16-slide presentation
describing the purchases and fixed assets business areas. Be sure
to incorporate speaker notes as well as appropriate visuals,
graphics, fonts, etc. Include any associated risk in these areas.
Describe specific internal controls that include authorization of
transactions, segregation of duties, adequate records and
documentation, security of assets, and independent checks and...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 7 minutes ago

asked 13 minutes ago

asked 19 minutes ago

asked 22 minutes ago

asked 22 minutes ago

asked 27 minutes ago

asked 45 minutes ago

asked 52 minutes ago

asked 55 minutes ago

asked 57 minutes ago

asked 1 hour ago

asked 1 hour ago