Question
In: Statistics and Probability
The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was...
The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was observed over a long period of time to be approximately normally distributed, with mean μ = $601 and standard deviation σ = $45.
(a) If $646 is budgeted for next week, what is the probability
that the actual costs will exceed the budgeted amount? (Round your
answer to four decimal places.)
(b) How much should be budgeted for weekly repairs, cleaning, and
maintenance so that the probability that the budgeted amount will
be exceeded in a given week is only 0.13? (Round your answer to the
nearest dollar.)
Solutions
Expert Solution
Please find the solution as attached below:
Refer the Z table given below
in order to see how the Z value and the probabilities are
calculated...
End of the Solution...
orchestra answered 2 years agoRelated Solutions
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Predicting the Amount of Money Spent on Insured Customers For this assignment, we will be analyzing...
Predicting the Amount of Money Spent on Insured Customers
For this assignment, we will be analyzing insured customers'
data for an insurance company:
Based on a
sample data that consists of the profile of insured customers, we
want to be able to predict the dollar amount of money spent by the
insurance company on insured customers.
Insured ustomers' Data
The insured customers'
data is in a csv file. It has information sconsisting of:
1.age
2.sex (female, male)
3.BMI
4.Children
5.Smoker...
1) The distribution of the amount of money spent by college students for school supplies in...
1) The distribution of the amount of money spent by college
students for school supplies in a semester is normally distributed
with a mean of $275 and a standard deviation of $20.
Using the Standard Deviation Rule, there is a 99.7%
probability that students spent between:
Group of answer choices
$255 and $295
$215 and $315
$235 and $315
$235 and $335
$215 and $335
2) The distribution of the amount of money spent by college
students for school supplies...
The number of customers in a local dive shop depends on the amount of money spent...
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advertising, there will be 105 customers/day. If the shop spends
$100, there will be 170 customers/day. As the amount spent on
advertising increases, the number of customers/day increases and
approaches (but never exceeds) 300 customers/day.
(a) Find a linear to linear rational function
y = f(x) that
calculates the number y of customers/day if $x is...
1. The amount of money spent by a customer at a discount store has a mean...
1. The amount of money spent by a customer at a discount store
has a mean of $100 and a standard deviation of $30. What is the
probability that a randomly selected group of 50 shoppers will
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than $5700 when the sample average exceeds what value?) (Round the
answer to four decimal places.)
P(total > 5700) =
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The director of special events for Sun City believed that the amount of money spent on...
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gathered the following data to test her suspicion.
4th of July ($000)
Fall Festival (000)
4th of July ($000)
Fall Festival (000)
10.9
9.7
9.0
9.5
8.5
6.4
10.5
9.7
12.1
12.3
7.5
6.6
9.0
10.2
10.0
10.1
5.5
6.0
6.0
6.1
12.0
11.1
12.4...
The director of special events for Sun City believed that the amount of money spent on...
The director of special events for Sun City believed that the
amount of money spent on fireworks displays on the 4th of July was
predictive of attendance at the Fall Festival held in October. She
gathered the following data to test her suspicion.
4th of July ($000)
Fall Festival (000)
4th of July ($000)
Fall Festival (000)
12.6
10.2
9.0
9.5
8.5
6.4
12.8
12.7
10.2
11.7
7.5
6.6
9.0
10.2
10.0
10.1
5.5
6.0
6.0
6.1
12.0
11.1
11.4...
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