This Question: 4 pts 9 of 9 This Quiz: 27 pts pos Question Help A waiter believe

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This Question: 4 pts 9 of 9 This Quiz: 27 pts pos Question Help A waiter believes the distribution of his tips has a model that is slightly skewed to the right, with a mean of $8.20 and a standard deviation of $6.10. He usually waits on about 40 parties over a weekend of work. a) Estimate the probability that he will earn at least $350. b) How much does he earn on the best 5% of such weekends? a) P(tips from 40 parties > $350)= (Round to four decimal places as needed.) b) The total amount that he earns on the best 5% of such weekends is at least (Round to two decimal places as needed.) Enter your answer in each of the answer boxes. Save for Later 45) 4) F11 F12 F7 F8 F9 F10

Explanation / Answer

a) expected tip for 40 parties =40*8.20=328

std deviation =6.10*(40)1/2 =38.58

hence P(X>350)=P(Z>(350-328)/38.58)=P(Z>0.5702)=0.2843

b)

for best 5% ; critical value of z =1.6449

hence corresponding value =mean +z*std deviation =391.46

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