American Express estimates current Halloween spending to be about $53 per person. Much of the spending was
Question:
a. Calculate the mean and standard deviation of these data.
b. Determine the following intervals for this data set:
± 1s, ± 2s, ± 3s.
c. Suppose your responsibility as an assistant manager was to determine the price of costumes to be sold. The manager has informed you to set the price of one costume so that it was beyond the budget of only 2.5% of the customers. Assume that the data set has a bell-shaped distribution.
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Related Book For
Business Statistics A Decision Making Approach
ISBN: 9780133021844
9th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
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