Question

7. The distribution of annual profit at the chain of Shoe Palace stores was approximately normal with a mean of $457,300 and a standard deviation of $58,000. The CEO of the company would like to reassess the efficiency of all managers of the stores with the lowest 15% of profits. What is the maximum annual profit at the stores that fit in the lowest 15%?

8. If the population of monthly internet bills for the Ida neighborhood has a mean of $82.00 and a standard deviation of $7.50, what is the probability of selecting a household at random whose monthly bill is $64.00 or less?

9. The administration is planning on giving assessments to the top 10% of seniors. If the mean of the senior class GPAs is 3.38 with a standard deviation of 0.15, what is the indicated z-score?

10. Indicate whether the following statistics can be examples of binomial probability distributions:

a.) results of spinning a 4-color spinner

b.) results of flipping a quarter

c.) results of drawing a red or black suit from a deck of cards

d.) results of hitting red light or green light at the intersection of Main and Rt. 340

Answer 1