can someone tell me how to work out this problems and ones similar to it? Jack has $16 in a savings account. The interest rate i
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Answer:
It is very unusual as the probability to get a sample average of 75 or more customers if the manager had not offered the discount is 0.006
Step-by-step explanation:
We are given the following information in the question:
Mean, μ = 50
Standard Deviation, σ = 10
We are given that the distribution of number of customers is a bell shaped distribution that is a normal distribution.
In an attempt to increase the number of weekday customers, the manager offers a $10 membership discount on 5 consecutive weekdays and the sample mean of customers during this weekday period jumps to 75.
Formula:
a) P(sample average of 75 or more customers if the manager had not offered the discount)
P(x > 75)
Calculation the value from standard normal z table, we have,
It is very unusual as the probability to get a sample average of 75 or more customers if the manager had not offered the discount is 0.006
b) Yes, the managers discount strategy worked as it increased the average number of customers from 50 customers to 75 customers.