ER VERSION Chapter 06, Section 6.4, Problem 041 The management of a supermarket

Question

ER VERSION Chapter 06, Section 6.4, Problem 041 The management of a supermarket wants to adopt a new promotional policy of giving a free gift to every customer who spends more than a certain amount per visit at this customer would receive a free gift? supermarket. The expectation of the management is that after this promotional policy is advertised, the expenditures for all customers at this supermarket will be normally distributed with a mean of 595 and a standard deviation of $25 if the management wants to give ree gifts to at most 12.3% of the customers, what should the amount be above which a on Round your answer to two decimal places. l to receive a free gift A customer should spend at least the tolerance is +/2% Click if you would like to show work for this question: ok. arnshonmck HOW HINT LINK TO TEX

Explanation / Answer

for top 12.3% ; at (100-12.3=87.7) percentile ; zscore =1.16

therfore corresponding spending score =mean+z*Std deviation =95+1.16*25 =$124.00

please revert for any clarification

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