What is the value of p?
1 answer:
You might be interested in
Answer:
Tuesday's Z-score is 7.56
Step-by-step explanation:
We are given that a department store, on average, has daily sales of 28,651.79 and the standard deviation of sales is $1000.
Also, it is given that on Tuesday, the store sold $36,211.08 worth of goods.
Let X = Daily sales of goods
So, X ~ N()
The z-score probability distribution is given by;
Z = ~ standard normal N(0,1)
Now, Tuesday,s Z-score is given by;
Z = = 7.56
Yes, Tuesday was an unusually good day as on this day more worth of sales takes place as compared to the average daily sales of $28,651.79 .