5.84 An ice-cream truck has an average daily profit of 250 with a standard deviation of 40....
Question:
5.84 An ice-cream truck has an average daily profit of £250 with a standard deviation of £40.
a. If a random business day is selected, what is the probability that the day’s profit is more than £280?
b. If a random business day is selected, what is the probability that the day’s profit is between £240 and £265?
c. What is the minimum amount of profit required for a day to be considered among the top 10% of most profitable business days?
d. If a random sample of 200 business days is selected, what is the probability that at least 60 days have earned a daily profit of more than £280?
e. If 2 business days are randomly selected, what is the probability that at least one day has a profit of more than £280?
Step by Step Answer:
Essential Mathematics And Statistics For Science
ISBN: 9780470694480
2nd Edition
Authors: Graham Currell, Dr. Antony Dowman