The weights of all candy bars of this type are certainly

Reference no: EM13631560

1. The weights of all candy bars of this type are certainly not constant because of slight variations in the factory production process. Assume these weights vary according to a normal distribution with mean \mu=2.2 and population standard deviation \sigma=0.04oz . The quality control department checks weights of all candy bars before shipment to stores. It has been company policy to not ship any bars that would be in the lowest 7% of weights. Below what weight would identify, or cutoff, the lowest 7%?

2. If you roll a sum of 7 or 9 on one toss of a pair of dice you win $25. The cost to play the game is $3.00. Theoretically, how much would you expect to win (or lose) if you played the game 1000 times?

(Identify whether your answer is a gain or loss.)

Reference no: EM13631560

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