In: Statistics and Probability
Suppose the local Best Buy store averages 301 customers every day entering the facility with a standard deviation of 80 customers. A random sample of 50 business days was selected. What is the probability that the average number of customers in the sample is between 290 and 310?
Solution :
Given that,
mean =
= 301
standard deviation =
= 80
n = 50
=
= 301
=
/
n = 80/
50 = 11.3137
P(290 <
< 310) = P((290 - 301) / 44.3137<(
-
)
/
< (310 - 301) / 11.3137))
= P(-0.97 < Z < 0.80)
= P(Z < 0.80) - P(Z < -0.97) Using standard normal table,
= 0.7881 - 0.1660
= 0.6221
Probability = 0.6221
The probability that the average number of customers in the sample is between 290 and 310 is 0.6221.