Solution-Coffee and doughnuts, At a certain coffee shop,

Coffee and doughnuts

Assignment Help Basic Statistics

Reference no: EM131748176

Coffee and doughnuts. At a certain coffee shop, all the customers buy a cup of coffee; some also buy a doughnut. The shop owner believes that the number of cups he sells each day is normally distributed with a mean of 320 cups and a standard deviation of 20 cups. He also believes that the number of doughnuts he sells each day is independent of the coffee sales and is normally distributed with a mean of 150 doughnuts and a standard deviation of 12.

a) The shop is open every day but Sunday. Assuming day-to-day sales are independent, what's the probability he'll sell over 2000 cups of coffee in a week?

b) If he makes a profit of 50 cents on each cup of coffee and 40 cents on each doughnut, can he reasonably expect to have a day s profit of over $300? Explain.

c) What's the probability that on any given day he'll sell a doughnut to more than half of his coffee customers?

Reference no: EM131748176

Questions Cloud

Discuss topic related to logistics engineering - management : demonstrate critical thinking at a higher-level as noted in APUS's Assignment Rubrics for Undergraduate 300-400 level work.

Define your random variables : a) Define your random variables, and use them to express the farmer s net income. b) Find the mean.

Why etl process is important for data warehousing efforts : Write a 1-2 page APA formatted paper with citations and references that analyzes why the ETL process is important for data warehousing efforts.

Journalize the transactions that took place : Journalize the transactions that took place in 2015 in the General Journal

Coffee and doughnuts : At a certain coffee shop, all the customers buy a cup of coffee; some also buy a doughnut. The shop owner believes that the number of cups

Prepare a budgeted profit statement for the year : Prepare a budgeted profit statement for year to 31 October 2014 showing total sales and marginal costs for year and also contribution and net profit per unit

Develop an optimum facility location model : Conduct a sensitivity analysis to consider reshoring part or all of MEF's flat packed product line.Be sure to consider the impact on MEF other product families.

What is total stockholders equity : Issued22,000 shares of common stock. The stock has a par value of$3.00 per share and was issued at$16.00 per share.

Define your variables clearly and state any assumptions : What's the probability that the total weight in that second box exceeds 60.5 pounds? Define your variables clearly and state any assumptions.

User Account

All Pages

Coffee and doughnuts

Reference no: EM131748176

Reference no: EM131748176

Questions Cloud

Reviews

Write a Review

Basic Statistics Questions & Answers

Statistics-probability assignment

What is the least number

Determine the value of k

What is the probability

Binomial distributions

Caselet on mcdonald’s vs. burger king - waiting time

Generate descriptive statistics

Sampling variability and standard error

Estimate the population mean

Conduct a marketing experiment

Find out the probability

Linear programming models

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT