A bathing suit store owner will change the stock of bathing suits for the next year if the average demand over the 12 summers Saturdays in a season (considered a random sample) is over 156 or under 136. These limits aren’t equidistant from the long-run process mean of 149 because the costs of oversupply and undersupply are different. If the population mean stays at 149. What is the probability that the owner will change the stock?
Screenshots of value:
Get Answers For Free
Most questions answered within 1 hours.