A waitress believes the distribution of her tips has a model that is slightly sk

Question

A waitress believes the distribution of her tips has a model that is slightly skewed to the left, with a mean of $10.60 and a standard deviation of $6.30. She usually waits on about 60 parties over a weekend of work. a) Estimate the probability that she will earn at least S700. b) How much does she earn on the best 5% of such weekends? a) P(tips from 60 parties> $700) (Round to four decimal places as needed.) b) The total amount that she earns on the best 5% of such weekends is at least (Round to two decimal places as needed.)

Explanation / Answer

a)

here for 60 parties ; expected tip=10.60*60=636

std deviaiton=6.30*sqrt(60)=48.80

hnce P(tips>700)=P(Z>(700-636)/48.80)=P(Z>1.31)=0.0951 ( please try 0.0948 if this comes)

b)

or top 5% ; crtiical z =1.645

hence corresponding total tip =mean+z*std deviation =636+1.645*48.80 =716.28

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