A company owns two stores. The monthly profit of the first store follows a normal distribution with
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A company owns two stores. The monthly profit of the first store follows a normal distribution with mean $10000 and standard deviation $1000. The monthly profit of the second store follows a normal distribution with mean $10000 and standard deviation $2 000. For both stores, the monthly profits are independent. Which store has a higher probability of having a profit of $12000 next month? (Computation not necessary here) Do you think your answer to the first question implies one store is better than the other? Why or why not?
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Related Book For
Principles Of Managerial Statistics And Data Science
ISBN: 9781119486411
1st Edition
Authors: Roberto Rivera
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