A waiter believes the distribution of his tips has a model that is slightly skewed to the

Question:

A waiter believes the of his tips has a model that is slightly skewed to the right, with a mean of $9.60 and a standard deviation of $5.40.
a) Explain why you cannot determine the probability that a given party will tip him at least $20.
b) Can you estimate the probability that the next 4 parties will tip an average of at least $15? Explain.
c) Is it likely that his 10 parties today will tip an average of at least $15? Explain.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...