In: Statistics and Probability
a fast food restaurant sells an average of 113 cheeseburger meals a day, with a standard deviation of 14 meals. the restaurant wants to identify the days on which its sales are n the lowest 25%. there are a total of 92 days included in the analysis. what are the highest sales in the group of 25% worst ales days?
solution
Given that,
mean = = 113
standard deviation = = 14
n = 92
= 113
= / n = 14/92=1.46
Using standard normal table,
P(Z < z) = 25%
= P(Z < z) = 0.25
= P(Z < -0.67) = 0.25
z = -0.67 Using standard normal table,
Using z-score formula
= z * +
=-0.67*1.46+113
=112.02