Question

Consider again the supermarket chain described in Problem 50. Now, assume that the daily sales of the five stores are no longer independent of one another. In particular, the file S04_77.xlsx contains the correlations between all pairs of daily sales volumes.
a. Find the mean and standard deviation of the total profit that this supermarket chain earns in one day from the operation of its five stores in Bloomington. Compare these results to those you found in Problem 50. Explain the differences in your answers.
b. Find an interval such that the regional sales manager of this supermarket chain can be approximately 95% sure that the total daily profit earned by its stores in Bloomington will be contained within the interval.



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  • CreatedApril 01, 2015
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