Question
0. The number of candy bars sold from a vending machine on any given day is uniformly distributed between 160 and 400, and the sales
0. The number of candy bars sold from a vending machine on any given day is uniformly distributed between 160 and 400, and the sales on one day are independent of the sales on other days. Consider a period of 144 days. (The mean of a uniform r.v. between 160 and 400 is 280, and the standard deviation is 69.3). (a) What is the probability that the sample mean number of candy bars sold in the 144-day period is greater than 285? (b) What is the probability that the total number of candy bars sold in the 144-day period is between 40,000 and 42,000? (c) If the profit per candy bar is 5 cents, what is the probability that the average profit per day over the 144-day period is at least $14
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