The daily sales total (excepting Saturday) at a small restaurant has a probability distribution that is approximately
Question:
a. What is the probability that the sales will exceed $1400 for a given day?
b. The restaurant must have at least $1000 in sales per day to break even. What is the probability that on a given day the restaurant will not break even?
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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The random variable x is approximately normally distribut...View the full answer
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Related Book For 
Introduction To Probability And Statistics
ISBN: 9781133103752
14th Edition
Authors: William Mendenhall, Robert Beaver, Barbara Beaver
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