Question

Greenfields is a mail order seed and plant business. The size of orders is uniformly distributed over the interval from $25 to $80. Use the following random numbers to generate the size of 10 orders. .41 .99 .07 .05 .38 .77 .19 .12 .58 .60 What is the value for the first order size generated randomly based on random number 0.41? What is the value for the last order size generated randomly based on random number 0.60? What is the average order size?

Answer 1

Answer:

a) 47.55

b) 58

c) 47.88

Step-by-step explanation:

Given that the size of the orders is uniformly distributed over the interval

$25 ( a ) to $80 ( b )

a) Determine the value for the first order size generated based on 0.41

parameter for normal distribution is given as ;  a = 25,  b = 80

size/value of order  = a + random number ( b - a )

                                = 25 + 0.41 ( 80 - 25 )

                                =  47.55

b) Value of the last order generated based on random number (0.6)

= a + random number ( b - a )

= 25 + 0.6 ( 80 - 25 )

= 25 + 33 = 58

c) Average order size

= ∑ order 1 + order 2 + ----- + order 10  ) / 10

= (47.55 + ...... + 58 ) / 10

= 478.8 / 10 = 47.88