Question
In: Statistics and Probability
Suppose that the number of gallons of milk sold per day at a local supermarket are...
Suppose that the number of gallons of milk sold per day at a local supermarket are normally distributed with mean and standard deviation of 419.9 and 26.93, respectively. What is the probability that on a given day the supermarket will sell between 432 and 438 gallons of milk?
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Solutions
orchestra answered 2 years agoRelated Solutions
At a local supermarket receiving dock, the number of truck arrivals per day is recorded for...
At a local supermarket receiving
dock, the number of truck arrivals per day is recorded for 100
days.
Arrivals per Day at a Loading Dock
Number of Arrivals
0
1
2
3
4
5
6
7
Total
Frequency
6
25
30
18
7
8
3
3
100
(a)
Estimate the mean from the
sample. (Round your answer to 2 decimal
places.)
Sample mean
(b)
Carry out the chi-square test, combining end categories as
needed to ensure that all...
The following data represent the number of flash drives sold per day at a local computer...
The following data
represent the number of flash drives sold per day at a local
computer shop and their prices.
Price (x) Units Sold
(y)
$34
4
36
4
32 6
35
5
31
9
38
2
39
1
You may use Excel for
solving this problem.
Compute the sample correlation
coefficient between the price and the number of flash drives
sold.
Develop a least-squares
estimated regression line.
Compute the coefficient of
determination and explain its meaning.
Test to...
Suppose these data show the number of gallons of gasoline sold by a gasoline distributor in...
Suppose these data show the number of gallons of gasoline sold
by a gasoline distributor in Bennington, Vermont, over the past 12
weeks.
Week
Sales (1,000s
of gallons)
1
17
2
21
3
19
4
23
5
18
6
16
7
21
8
19
9
23
10
21
11
16
12
23
(a) Using a weight of 1/2 for the most recent
observation, 1/3 for the second most recent observation, and
1/6 for third most recent observation, compute a
three-week weighted moving...
Suppose these data show the number of gallons of gasoline sold by a gasoline distributor in...
Suppose these data show the number of gallons of gasoline sold
by a gasoline distributor in Bennington, Vermont, over the past 12
weeks.
Week
Sales (1,000s
of gallons)
1
17
2
22
3
20
4
24
5
19
6
17
7
21
8
18
9
23
10
21
11
16
12
22
(a)
Compute four-week and five-week moving averages for the time
series.
Week
Time Series
Value
4-Week
Moving
Average
Forecast
5-Week
Moving
Average
Forecast
1
17
2
22
3...
1. Cal sold 4,000 gallons per day at a price of $2.189 per gallon. He raised...
1. Cal sold 4,000 gallons per day at a price of $2.189 per
gallon. He raised the price 1 cent to $2.199 per gallon, and
revenues and profits dropped. His station sold 3,600 gallons per
day at $2.199 per gallon. Fixed costs are $250 per day. What is the
price elasticity of demand? Can the elasticity be characterized as
elastic, inelastic, or neither? By how much did revenues increase
or decrease as a result of the change in price? By...
The number of goods sold by “The Local” is in excess of one million per year...
The number of goods sold by “The Local” is in excess of one
million per year with deliveries being about 40% of that figure.
The amount of goods sold has decreased marginally in recent years.
“The Local” is wholly owned but Bianca and her staff have a
standard of living to maintain so there is some pressure to raise
overall sales whilst keeping costs, particularly delivery costs, in
check. Bianca continues: It is your job to
use the sample data...
Suppose that, in the Bondi toy shop, the number of marbles sold in a day has...
Suppose that, in the Bondi toy shop, the number of marbles sold
in a day has a mean of m= 2800 and standard deviation of s=
340.
If we calculate the mean number of marbles sold per day over 100
days for many salespeople:
1. What is the standard error of the sample mean? (integer)
2. What will be the 10th percentile of this distribution of
sample means? (integer)
3. What will be the 74th percentile of this distribution of...
Case 3 In order to determine whether or not the number of automobiles sold per day...
Case 3
In order to determine whether or not the number of automobiles
sold per day (Y) is related to price (X1 in $1,000), and
the number of advertising spots (X2), data were gathered
for 7 days. Part of the regression results is shown below.
Coefficient
Standard Error
Intercept
0.8051
X1
0.4977
0.4617
X2
0.4733
0.0387
Analysis of Variance
Source of
Degrees
Sum of
Mean
Variation
of Freedom
Squares
Square
F
Regression
40.700
Error
1.016
Refer to case 3. At...
The number of loaves of bread sold per day by an organic bakery over the past...
The number of loaves of bread sold per day by an organic bakery
over the past five years can be treated as a random variable that
is normally distributed. This distribution has a mean of 77.5 and a
standard deviation of 14.4 loaves. Suppose a random sample of 36
days has been selected. Determine the probability that the average
number of loaves sold in the sample of days exceeds 80 loaves.
First find the standard error of the mean.
Now...
a) At the supermarket, milk costs $2 per quart while cereal costs $5 per box. 1....
a) At the supermarket, milk costs $2 per quart while cereal
costs $5 per box.
1. In a diagram, measuring quarts of milk along the horizontal
axis, draw the budget constraint of a consumer with an overall cash
budget of $20.
2. In the diagram, illustrate how the consumer’s budget
constraint changes if there is a two-for-one sale on cereal.
3. In the diagram, illustrate how the consumer’s budget
constraint changes if the two-for-one sale on cereal applies only
to...
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