The total daily sales, x, in the deli section of a local market is the sum of

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The total daily sales, x, in the deli section of a local market is the sum of the sales generated by a fixed number of customers who make purchases on a given day.
a. What kind of probability distribution do you expect the total daily sales to have? Explain.
b. For this particular market, the average sale per customer in the deli section is $8.50 with σ = $2.50. If 30 customers make deli purchases on a given day, give the mean and standard deviation of the probability distribution of the total daily sales, x.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Introduction To Probability And Statistics

ISBN: 9781133103752

14th Edition

Authors: William Mendenhall, Robert Beaver, Barbara Beaver

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