Suppose the store in Exercise 14 had 312 customers this Sunday. a) Estimate the probability that the

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Suppose the store in Exercise 14 had 312 customers this Sunday.
a) Estimate the probability that the store's revenues were at least $10,000.
b) If, on a typical Sunday, the store serves 312 customers, how much does the store take in on the worst 10% of such days?
Exercise 14
A grocery store's receipts show that Sunday customer purchases have a skewed distribution with a mean of $32 and a standard deviation of $20.
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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Stats Data and Models

ISBN: 978-0321986498

4th edition

Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock

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