Question
I am struggling a bit with this what does this look like step by step? A survey done by the Bermuda Tourism Board reported that
I am struggling a bit with this what does this look like step by step?
A survey done by the Bermuda Tourism Board reported that the average cruise ship visitor to Bermuda on one of Cruise Bermuda's cruise tours spends $185 for on-shore tickets, drinks, and the like (with a standard deviation of $15). Assume the distribution of visitor spending is uniform and described by the probability density function. You can see the uniform distribution below...
f(x) = 1/50 for x values between $160 and $210 0 everywhere else
...where x =values for the random variable "cruise tourist spending", and the probability density function: 1/50. Use the equation to answer the following questions within your Excel file. Show your calculations.
What percentage of cruise ship visitors spend between $170 and $180?
What percentage of cruise ship visitors spend less than $165?
Cruise Bermuda marketers want to make a "soft promise" to customers that they won't spend
more than $200 at tour destinations. Apply the NORM.DIST function in Excel to find the probability that a Cruise Bermuda tourist spends less than $200 for "cruise tourist spending":
What is the probability that Cruise Bermuda customers will spend less than $200 for
"cruise tourist spending"?
What is the probability that Cruise Bermuda customers will spend more than $200 for
"cruise tourist spending"?
Is this good enough to make a promise to customers?
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