A store selling air conditioners during November decides to offer customers a Christmas deal. The deal...
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A store selling air conditioners during November decides to offer customers a Christmas deal. The deal promises to refund 25% of the air conditioner purchase price if the average temperature over the first 13 days of December (the following month) is more than 2.5 degrees above the historical average temperature for the first 13 days in December. Historical data indicates that daily temperatures in the first 13 days of December are normally distributed with an average of 29.0 degrees and a standard deviation of 4.7 degrees. What is a probability that a customer will receive a 25% refund? (4 dec places) A store selling air conditioners during November decides to offer customers a Christmas deal. The deal promises to refund 25% of the air conditioner purchase price if the average temperature over the first 13 days of December (the following month) is more than 2.5 degrees above the historical average temperature for the first 13 days in December. Historical data indicates that daily temperatures in the first 13 days of December are normally distributed with an average of 29.0 degrees and a standard deviation of 4.7 degrees. What is a probability that a customer will receive a 25% refund? (4 dec places)
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To determine the probability that a customer will receive a 25 refund we need to calculate the proba... View the full answer
Related Book For
Managerial accounting
ISBN: 978-0471467854
1st edition
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
Posted Date:
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