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In: Statistics and Probability

Best Electronics offers a “no hassle” returns policy. The number of items returned per day follows...

Best Electronics offers a “no hassle” returns policy. The number of items returned per day follows the normal distribution. The mean number of customer returns is 8.2 per day and the standard deviation is 1.60 per day. Refer to the table in Appendix B.1.  

a. In what percentage of the days 6 or fewer customers returning items? (Round z-score computation to 2 decimal places and the final answer to 2 decimal places.)

Percentage            %

b. In what percentage of the days between 12 and 14 customers returning items? (Round z-score computation to 2 decimal places and the final answer to 2 decimal places.)

Percentage            %

c. Is there any chance of a day with no returns?

(Click to select)  No, it is not possible.  Yes, but very unlikely.  Yes

Solutions

Expert Solution

Let "X" be “no hassle” returns policy.

Refer Z-table to find the probability or use excel formula "=NORM.S.DIST(-1.38, TRUE)" to find the probability.

Convert the answer to the percentage (that is multiply by 100).

-------------------------------------------------------------------------------------------------------------------

Refer Z-table to find the probability or use excel formula "=NORM.S.DIST(3.63, TRUE)" & "=NORM.S.DIST(2.38, TRUE)" to find the probability.

Convert the answer to the percentage (that is multiply by 100).

-------------------------------------------------------------------------------------------------------------------

Refer Z-table to find the probability or use excel formula "=NORM.S.DIST(-5.13, TRUE)" to find the probability.

Convert the answer to the percentage (that is multiply by 100).

orchestra answered 1 year ago
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