Reference no: EM132850886

1) Mariela runs a small side business making fleece vests for dogs. Using data from past years, she estimates the amount she will sell in any given month is Normally distributed with a mean of $470 and a standard deviation of $58. The monthly cost of buying materials is also Normally distributed with a mean of $300 and a standard deviation of $45. What is the probability that Mariela makes a profit of at least $250 in a random month?

2) Determine whether the random variable below satisfies the conditions for a binomial setting, a geometric setting, or neither (you don't need to actually calculate the number). Support your conclusion (is there an acronym you can use?)

Suppose that one out of every 300 squirrels in a large forest is born with white fur. As a collector of exotic animals you'd like to find a white squirrel to add to your menagerie. How many squirrels would you expect to have to catch in order to find the first squirrel who has white fur?