Question: Your restaurant will serve 50 dinner groups tonight. Assume that the mean check size of dinner groups in general is $60, the standard deviation is

Your restaurant will serve 50 dinner groups tonight. Assume that the mean check size of dinner groups in general is $60, the standard deviation is $40, and the distribution is slightly skewed with a longer tail toward high values.
a. Find the mean and standard deviation for the total of all 50 checks.
b. Find the mean and standard deviation for the average of all 50 checks.
c. What further assumption is needed in order for you to conclude that the total of all 50 checks is approximately normally distributed?
d. Find the probability that the total of all 50 checks is more than $3,100, assuming a normal distribution.
e.
Find the probability that the average of all 50 checks is between $58 and $65, assuming a normal distribution.

Step by Step Solution

3.30 Rating (171 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a The mean is 3000 The standard deviation is 28284 b The m... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

636-M-S-R-S (251).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!