A national restaurant chain is composed of 6500 restaurants, each of which is located in close...

 

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A national restaurant chain is composed of 6500 restaurants, each of which is located in close proximity to an interstate highway. The restaurant's business strategy is to serve its core customer base: people travelling on the interstate highway system who are looking for a quality dining experience. Customers generally enjoy the restaurant chain's menu, atmosphere, and consistency from restaurant to restaurant. The company's leadership, located at corporate headquarters, is very interested in the relationship between the cost of a gallon of gasoline and the company's revenue. Specifically, the company is concerned that if gasoline prices rise in the near future, the company's revenue will decline dramatically. The company's research department recently collected data for analysis in order to support leadership's upcoming discussion of whether the company should expand and diversify to locations away from an interstate highway. Annual revenue figures from a random sample of 150 restaurants were collected. The research division also collected and calculated the average annual cost of gasoline at these 150 restaurants by randomly selecting three gasoline stations near each restaurant. Historical data was then used to calculate the average annual cost of gasoline. The Restaurant Number, Geographic Region, Annual Revenue, Average Cost of Gasoline, Miles from the Interstate, Square Footage and Annual Increase 150 restaurants. Revenue were collected for these StatCrunch Data Set Corporate headquarters is interested in analyzing the square footage of this sample of 150 of its restaurants. Calculate the probability of randomly selecting a store with more than 14,000 square feet. (Use the mean and standard deviation of the Square Feet data. Also, if appropriate based upon your visual analysis of a histogram of the Square Feet data, use the Normal distribution to answer this question.) (Round to two decimal places as needed.) Corporate headquarters is interested in analyzing the square footage of this sample of 150 of its restaurants. Calculate the probability of randomly selecting a store that has between 11,000 and 14,000 square feet. (Use the mean and standard deviation of the Square Feet data. Also, if appropriate based upon your visual analysis of a histogram of the Square Feet data, use the Normal distribution to answer this question.) % (Round to two decimal places as needed.) Corporate headquarters is interested in analyzing the square footage of this sample of 150 of its restaurants. Calculate the square footage that represents the 75th percentile of this sample. (Use the mean and standard deviation of the Square Feet data. Also, if appropriate based upon your visual analysis of a histogram of the Square Feet data, use the Normal distribution to answer this question.) square feet (Round to two decimal places as needed.) A national restaurant chain is composed of 6500 restaurants, each of which is located in close proximity to an interstate highway. The restaurant's business strategy is to serve its core customer base: people travelling on the interstate highway system who are looking for a quality dining experience. Customers generally enjoy the restaurant chain's menu, atmosphere, and consistency from restaurant to restaurant. The company's leadership, located at corporate headquarters, is very interested in the relationship between the cost of a gallon of gasoline and the company's revenue. Specifically, the company is concerned that if gasoline prices rise in the near future, the company's revenue will decline dramatically. The company's research department recently collected data for analysis in order to support leadership's upcoming discussion of whether the company should expand and diversify to locations away from an interstate highway. Annual revenue figures from a random sample of 150 restaurants were collected. The research division also collected and calculated the average annual cost of gasoline at these 150 restaurants by randomly selecting three gasoline stations near each restaurant. Historical data was then used to calculate the average annual cost of gasoline. The Restaurant Number, Geographic Region, Annual Revenue, Average Cost of Gasoline, Miles from the Interstate, Square Footage and Annual Increase 150 restaurants. Revenue were collected for these StatCrunch Data Set Corporate headquarters is interested in analyzing the square footage of this sample of 150 of its restaurants. Calculate the probability of randomly selecting a store with more than 14,000 square feet. (Use the mean and standard deviation of the Square Feet data. Also, if appropriate based upon your visual analysis of a histogram of the Square Feet data, use the Normal distribution to answer this question.) (Round to two decimal places as needed.) Corporate headquarters is interested in analyzing the square footage of this sample of 150 of its restaurants. Calculate the probability of randomly selecting a store that has between 11,000 and 14,000 square feet. (Use the mean and standard deviation of the Square Feet data. Also, if appropriate based upon your visual analysis of a histogram of the Square Feet data, use the Normal distribution to answer this question.) % (Round to two decimal places as needed.) Corporate headquarters is interested in analyzing the square footage of this sample of 150 of its restaurants. Calculate the square footage that represents the 75th percentile of this sample. (Use the mean and standard deviation of the Square Feet data. Also, if appropriate based upon your visual analysis of a histogram of the Square Feet data, use the Normal distribution to answer this question.) square feet (Round to two decimal places as needed.)

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