Question: The owner of a computer repair shop has determined that their daily revenue has mean $7200 and standard deviation $1200. The daily revenue totals for
The owner of a computer repair shop has determined that their daily revenue has mean $7200 and standard deviation $1200. The daily revenue totals for the next 30 days will be monitored. What is the probability that the mean daily revenue for the next 30 days will exceed $7000?
Step by Step Solution
3.41 Rating (151 Votes )
There are 3 Steps involved in it
To solve this problem we will use the concept of the Central Limit Theorem CLT which allows us to as... View full answer
Get step-by-step solutions from verified subject matter experts
