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Answer:
For the restaurant that charges 95 cents, the z-score is -4.29.
For the restaurant that charges $1, the z-score is -3.57.
For the restaurant that charges $1.35, the z-score is 1.43
Step-by-step explanation:
Z-score:
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.
The average cost of a glass of iced tea is $1.25 with a standard deviation of 7c.
This means that
Restaurant that charges 95 cents:
The z-score is found when X = 0.95. So
For the restaurant that charges 95 cents, the z-score is -4.29.
Restaurant that charges $1:.
X = 1
For the restaurant that charges $1, the z-score is -3.57.
Restaurant that charges $1.35:
X = 1.35
For the restaurant that charges $1.35, the z-score is 1.43