Probability that mean daily revenue will be of given value

Assignment Help Basic Statistics
Reference no: EM13126260

The owner of a convenience store has determined that their daily revenue has mean $7200 and standard deviation $1200. The daily revenue totals for the next 30 days will be monitored. What is the probability that the mean daily revenue for the next 30 days will be between $7000 and $7500?

Reference no: EM13126260

Questions Cloud

Calculate the energy in kj required to raise the temperature : The specific heat capacity of silver is 0.240 J/(g x degrees C). Calculate the energy (in kJ) required to raise the temperature of 263 g Ag from 273K to 278 K.
What mass of c4h6 in grams is consumed : What mass of C4H6 in grams is consumed in the reaction below when 36.9 grams O2 (g) are also consumed?
Indicate accounts debited and credited : Indicate accounts debited and credited when recording each transaction by placing the proper account identification numbers to the right of each transaction.
How much energy in kilojoules is required : how much energy in kilojoules is required to change 47.6g of ice at 0 degrees C to liquid water at the same temperature? In kilocalories?
Probability that mean daily revenue will be of given value : The daily revenue totals for the next 30 days will be monitored. What is the probability that the mean daily revenue for the next 30 days will be between $7000 and $7500?
An email is inviting a company for collaboration : an  email is inviting a company for collaboration in selling their products in another country.
Evaluate what is the budgeted total variable cost : Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: Evaluate what is the budgeted total variable cost?
Receipt of the semiannual interest payment : Griggs Company holds $50,000 of 8% bonds as a held-to-maturity security. Which of the following is the correct journal entry to record the receipt of the semiannual interest payment.
Determined by titrating with a standard solution : The purity of a 0.287 -g samole of Zn(OH)2 is determined by titrating with a standard solution, requiring 37.8 mL. The HCL solution was standardized by precipitating AgCl in a 25.0-mL aliquot

Reviews

Write a Review

Basic Statistics Questions & Answers

  Predicting the expected monetary values

Given the following data, calculate the EMV for each investment alternative. Which is best based on the EMVs you calculated?

  Testing two population means differ significantly

At the .05 significance level, can we conclude that there is a difference in their mean times?

  Mean of a normal distribution probability

The mean of a normal distribution probability is 400 pounds. The standard deviation is 10. What is the area between 415 pounds and the mean of 400 pounds? (Round to 4 decimals)

  Statistical and management conclusions

Solve manually and then by mega stat. Indicate your decision rule, your hypotheses and your statistical and management conclusions."

  Conclude equal numbers of canadian retirees living in hawaii

At the 0.05 significance level, can we conclude that equal numbers of Canadian retirees living in Hawaii came from each of the four cities?

  How we determine the significance

How does a t test differ from a z test in terms of when it is used, how it is calculated, and how we determine significance?

  Standard deviation-computational formula

The bank wants to find out the waiting time of their customers during the Friday evening hours from 5pm to 8pm. Using the data in ungrouped form, compute the Standard Deviation, using the computational formula.

  Probability based on uniform distribution

Suppose you bid $12000.  What is the probability that your bid will be accepted?

  Find the indicated probability

The diameters of bolts produced by a certain machine are normally distributed with a mean of 0.30 Inches and a standard deviation of 0.01 inches.

  What is probability that second one selected is defective

What is the probability that the second one selected is defective given that the first one was defective? (c) What is the probability that both are defective?

  Probability that randomly selected state has per capita gnp

Normally distributed with a mean of $ 1750 and a standard deviation of 300. What's the probability that a randomly selected state has a per capita GNP at or below $950?

  Random variable having a lognormal distribution

The length of time for one individual to be served at a cafeteria is a random variable having a lognormal distribution with a mean of 10 minutes and standard deviation of 2 minutes.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd