Which number is itra
2 answers:
You might be interested in
Answer:
(a) The probability that the store’s revenues were at least $9,000 is 0.0233.
(b) The revenue of the store on the worst 1% of such days is $7,631.57.
Step-by-step explanation:
According to the Central Limit Theorem if we have a population with mean μ and standard deviation σ and we take appropriately huge random samples (n ≥ 30) from the population with replacement, then the distribution of the sum of values of X, i.e ∑X, will be approximately normally distributed.
Then, the mean of the distribution of the sum of values of X is given by,
And the standard deviation of the distribution of the sum of values of X is given by,
It is provided that:
As the sample size is quite large, i.e. <em>n</em> = 310 > 30, the central limit theorem can be applied to approximate the sampling distribution of the store’s revenues for Sundays by a normal distribution.
(a)
Compute the probability that the store’s revenues were at least $9,000 as follows:
Thus, the probability that the store’s revenues were at least $9,000 is 0.0233.
(b)
Let <em>s</em> denote the revenue of the store on the worst 1% of such days.
Then, P (S < s) = 0.01.
The corresponding <em>z-</em>value is, -2.33.
Compute the value of <em>s</em> as follows:
Thus, the revenue of the store on the worst 1% of such days is $7,631.57.
Answer:
a) The probability that this whole shipment will be accepted is 30%.
b) Many of the shipments with this rate of defective aspirin tablets will be rejected.
Step-by-step explanation:
We have a shipment of 3000 aspirin tablets, with a 5% rate of defects.
We select a sample of size 48 and test for defectives.
If more than one aspirin is defective, the batch is rejected.
The amount of defective aspirin tablets X can be modeled as a binomial distribution random variable, with p=0.55 and n=48
We have to calculate the probabilities that X is equal or less than 1: P(X≤1).