Assume that the number of sales per day of an app in the Apple IOS App Store is

Question

Assume that the number of sales per day of an app in the Apple IOS App Store is normally distributed. A) What two parameters of the distribution would you need to be able to determine the probability of sales on a particular day exceeding 100 units?

A. What two parameters of the distribution would you need to be able to determine the probability of sales on a particular day exceeding 100 units?

B) If the probability of sales exceeding 100 units is 20% and the mean daily sales is 86 units, what is the standard deviation of the distribution? show work

Explanation / Answer

a) the tw parameters required to  determine the probability of sales on a particular day exceeding 100 units is mean and standard deviation of daliy sales.

b) here for top 20 %, at 80 percentile z=0.8416

hence 80 th percentile =mean +z*std deviation

100 =86+0.8416*std deviaiton

std deviation=16.6346

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