Chapter 06, Testbank, Question 036-038 The daily sales at a convenience store pr

Question

Chapter 06, Testbank, Question 036-038 The daily sales at a convenience store produce a distribution that is approximately normal with a mean of 1340 and a standard deviation of 117. In your intermediate calculations, round z-values to two decimal places.

The probability that the sales on a given day at this store are more than $ 1405, rounded to four decimal places, is: .

The probability that the sales on a given day at this store are less than $ 1305, rounded to four decimal places, is: .

The probability that the sales on a given day at this store are between $ 1200 and $ 1300, rounded to four decimal places, is:

Explanation / Answer

mean is 1340 and sd is 117

a) P(x>1405)= P(z>(1405-1340)/117)=P(z>0.56) or 1-P(z<0.56), from normal distribution table it is 1-0.7123=0.2877

b) P(x<1305)=P(z<(1305-1340)/117)=P(z<-0.29)=1-P(z<0.29)=1-0.6141=0.3859

c) P(1200<x<1300)=P((1200-1340)/117<z<(1300-1340)/117)=(-1.2<z<-0.34)=P(z<1.2)-P(z<0.34)=0.8849-0.6631 =0.2218

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