Circuit Citys receipts show that customer purchase amounts have a right-skewed d

Question

Circuit Citys receipts show that customer purchase amounts have a right-skewed distribution with a mean of $49 and standard deviation of $21. Suppose the Circuit City store in Syracuse had 502 customers yesterday. Describe the sampling distribution of the stores total revenues In the specific, answer the following questions: (i) Is the distribution Normal? If so, why? (ii) What is the mean of this distribution? What is the standard deviation of this distribution? Estimate the probability that the stores revenues were at least $20,000.

Explanation / Answer

i) distribution is normal because sample size is large

mean of the distribution =502*49=24598

std deviation of distribution =21*(502)1/2 =470.5125

hence probability that revenue will be at ;least 20000 =P(X>20000)=1-P(X<20000)=1-P(Z<(20000-24598)/470.5125)

=1-P(Z<9.7723)=1-(approx 0) =1

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