Question: Daily profits at a retail store have an average of $1000. If at least 88.9% of values are between $800 and $1200, what is the

Daily profits at a retail store have an average of $1000. If at least 88.9% of values are between $800 and $1200, what is the standard deviation of daily profits? (Please enter you answer with a single decimal digit using a dot, e.g. 43.7)

Step by Step Solution

3.23 Rating (175 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Let the daily profits be represented by the random variable X Then Assuming X to be normal... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1019-B-C-A-C-P-A(2120).docx

120 KBs Word File

Students Have Also Explored These Related Cost Accounting Questions!