if GameStop buys a video game for $35.00 and sells it with a 15% markup. How much does it cost the customer?
1 answer:
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Answer:
0.0475 = 4.75% probability that a randomly selected complaint takes more than 15 minutes to be settled.
Step-by-step explanation:
Normal Probability Distribution
Problems of normal distributions can be solved using the z-score formula.
In a set with mean and standard deviation
, the z-score of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.
Mean of 10 minutes and a standard deviation of 3 minutes
This means that
Find the probability that a randomly selected complaint takes more than 15 minutes to be settled.
This is 1 subtracted by the p-value of Z when X = 15, so:
has a p-value of 0.9525.
1 - 0.9525 = 0.0475.
0.0475 = 4.75% probability that a randomly selected complaint takes more than 15 minutes to be settled.