Question

PLEASE SHOW FORMULA! Problem 4. Starbucks manager at LeBow wants to find: (a) the probability of...

PLEASE SHOW FORMULA!
Problem 4. Starbucks manager at LeBow wants to find: (a) the probability of the total average cost less than or equal to $1000 per day. He is only concerned about the cost of waiting time of customers. Customers spend time at the checkout register with mean of 4 minutes and standard deviation of 4 minutes. On average, he got 100 customers per day. 1 minute of waiting time is considered as cost of $0.5. (b) the probability of the total expected revenue greater than or equal to $1500 per day. On average, each customer spends $4 at a time with standard deviation of $1.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
***Please include bell shaped curve. Zingo's Grocery store claims that customers spend an average of 5...
***Please include bell shaped curve. Zingo's Grocery store claims that customers spend an average of 5 minutes waiting for service at the stores deli counter. A random sample of 40 customers was timed at the deli counter, and the average service time was found to be 5.85 minutes. Historically the standard deviation for waiting time is 1.75 minutes per customer. a. Find the 95% confidence interval for the mean time that customers wait at the deli counter. b. Is there...
Please type answer, can't see written answers well. Also PLEASE PROVIDE BELL SHAPED CURVE** That is...
Please type answer, can't see written answers well. Also PLEASE PROVIDE BELL SHAPED CURVE** That is the part I struggle with the most. Zingo's Grocery store claims that customers spend an average of 5 minutes waiting for service at the stores deli counter. A random sample of 40 customers was timed at the deli counter, and the average service time was found to be 5.85 minutes. Historically the standard deviation for waiting time is 1.75 minutes per customer. a. Find...
The Rhodes Furniture store gets an average of 300 customers per shift. The manager of Rhodes...
The Rhodes Furniture store gets an average of 300 customers per shift. The manager of Rhodes wants to calculate whether she should hire 1, 2, 3, or 4 salespeople. In deciding how many cashiers to keep open each Saturday, she considers two factors: customer waiting time (and the associated waiting cost) and the service costs of employing additional checkout clerks. Checkout clerks are paid an average of $8 per hour. When only one is on duty, the waiting time per...
Let X denote the waiting time (in minutes) for a customer. An assistant manager claims that...
Let X denote the waiting time (in minutes) for a customer. An assistant manager claims that μ, the average waiting time of the entire population of customers, is 3 minutes with standard deviation also 2 minutes. The manager doesn't believe his assistant's claim, so he observes a random sample of 36 customers. The average waiting time for the 36 customers is 3.2 minutes. What is the probability that the average of 36 customers is 3.2 minutes or more? Do you...
The amount of time that a customer spends waiting at an airport check-in counter is a...
The amount of time that a customer spends waiting at an airport check-in counter is a random variable with mean 8.1 minutes and standard deviation 1.6 minutes. Suppose that a random sample of n=50 customers is observed. Find the probability that the average time waiting in line for these customers is (a) Less than 10 minutes (b) Between 5 and 10 minutes (c) Less than 6 minutes Round your answers to four decimal places (e.g. 0.9876).
Quiz 4. John's answering machine receives about 7 telephone calls between 8 a.m. and 10 a.m....
Quiz 4. John's answering machine receives about 7 telephone calls between 8 a.m. and 10 a.m. What is the probability that John receives exactly one phone call between 9:00 am and 9:15 am? 5. Bus waiting time is uniformly distributed with the shortest and the longest waiting times being 9 and 21 minutes respectively. What is the standard deviation of the average waiting time of 46 passenger 6. The amount of time spouses shop for anniversary cards can be modeled...
Goofy owns and manages a hot dog stand near Walt Disney World. Although Goofy can serve...
Goofy owns and manages a hot dog stand near Walt Disney World. Although Goofy can serve 30 customers per hour on average (?), he only gets 20 customers per hour (?). Because Goofy could wait on 50% more customers than actually visit his stand, it doesn’t make sense to him that he should have any waiting lines. Goofy hires you to examine the situation and determine some characteristics of his queue. After looking into the problem, you find this to...
The manager of a grocery store has taken a random sample of 4 customers. The average...
The manager of a grocery store has taken a random sample of 4 customers. The average length of time it took the customers in the sample to check out was 6 minutes. The population standard deviation is known to be 0.1 minutes. We want to test to determine whether or not the mean waiting time of all customers is significantly more than 7 minutes. Use a significance level of (alpha = 0.01). Please show work.
The manager of a grocery store has taken a random sample of 100 customers. The average...
The manager of a grocery store has taken a random sample of 100 customers. The average length of time it took the customers in the sample to check out was 3.1 minutes. The population standard deviation is known to be 0.5 minute. We want to test to determine whether or not the mean waiting time of all customers is significantly more than 3 minutes. The test statistic is _____. a. 1.64 b. 2.00 c. 1.96 d. .056
The length of time it takes to fill an order at the canteen at Westminster Business...
The length of time it takes to fill an order at the canteen at Westminster Business School is normally distributed with a mean of 4.1 minutes and standard deviation of 1.3 minutes. ii) What is the probability that the average waiting time for a random sample of ten customers is between 4.0 and 4.2 minutes? iii) If the probability that the waiting time for a random sample of ten customers is greater than ɑ minutes is equal to 95%, what...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT