Solution-Discuss the distribution of purchase amounts by

Discuss the distribution of purchase amounts by customers

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Reference no: EM131641124

Question: Suppose it is known that the distribution of purchase amounts by customers entering a popular retail store is approximately normal with mean $25 and standard deviation $8.

a. What is the probability that a randomly selected customer spends less than $35 at this store?

b. What is the probability that a randomly selected customer spends between $15 and $35 at this store?

c. What is the probability that a randomly selected customer spends more than $10 at this store?

d. Find the dollar amount such that 75% of all customers spend no more than this amount.

e. Find the dollar amount such that 80% of all customers spend at least this amount.

f. Find two dollar amounts, equidistant from the mean, such that 90% of all customer purchases are between these values.

Reference no: EM131641124

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Discuss the distribution of purchase amounts by customers

Reference no: EM131641124

Reference no: EM131641124

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