Monthly Sales

7704,98

8456,66

7798,23

7147,18

9484,62

8282,44

7355,97

8667,48

7704,12

8129,21

7530,08

7682,69

7335,68

7890,21

8119,25

8255,28

7779,28

7481,05

7198,52

8543,65

7993,16

7119,5

8021,03

8539,25

8190,68

7815,15

8573,05

6267,19

8907,03

7977,6

9096,87

8028,37

7058,06

8800,08

7298,09

8888,65

8376,31

8068,86

8505,35

9241,74

7684,14

8392,4

8777,97

7616,09

9524,91

9514,57

9411,68

8641,78

7325,7

8400,95

9521,4

8451,16

7844,16

8096,17

9733,44

10123,24

8082,42

8751,08

9450,73

7490,23

QUESTION 6

If you view the company's performance record as a representative sample of its overall sales performance, and considering what you know about normal distribution, what is the dollar value for the 95th percentile?

NOTE:Enter a numerical value only, donotinclude the $ sign; and round your response to2digits after the decimal point. If you do not follow these formatting and rounding rules, you may not receive credit for your answer.

QUESTION 7

If you view the company's performance record as a representative sample of its overall sales performance, and considering what you know about normal distribution, what is the dollar value for the lowest 25th percentile?

NOTE:Enter a numerical value only, donotinclude the $ sign; and round your response to2digits after the decimal point. If you do not follow these formatting and rounding rules, you may not receive credit for your answer.

QUESTION 8

Given the company's performance record and based on the empirical rule of normal distribution (also known as the 68%-95%-99.7% rule), what would be the lower bound of the range of sales values that contains 68% of the monthly sales?

NOTE:Enter a numerical value only, donotinclude the $ sign; and round your response to2digits after the decimal point. If you do not follow these formatting and rounding rules, you may not receive credit for your answer.

QUESTION 9

Given the company's performance record and based on the empirical rule of normal distribution (also known as the 68%-95%-99.7% rule), what would be the upper bound of the range of sales values that contains 68% of the monthly sales?

NOTE:Enter a numerical value only, donotinclude the $ sign; and round your response to2digits after the decimal point. If you do not follow these formatting and rounding rules, you may not receive credit for your answer.

QUESTION 10

An insurance company wants to make sure that its best customers (those with lowest value of insurance claims) stay with the company. To achieve this goal, the company plans to offer a 10% discount on the annual health insurance premium for customers with the lowest 20% of annual health care expenses. If the average annual health care expenses for a family of four is $3,650 with a standard deviation of $975, what is the amount of the maximum annual health care expense that will qualify for the proposed discount?

NOTE:Enter a numerical value only, donotinclude the $ sign; and round your response to2digits after the decimal point. If you do not follow these formatting and rounding rules, you may not receive credit for your answer.

QUESTION 11

A manager of a telemarketing firm wants to reward her best sales personnel. Each salesperson gets a list of customers to call. The data has been collected on the number of sales made per 100 calls. Now the manager wants to evaluate this data in order to decide what should be considered "exceptional" performance. Use Sales_Record.xlsx to answer questions 11-12.

Based on this data, what is the expected number of sales (per 100 calls)?

NOTE: Enter a numerical value only, do not include the $ sign; and round your response to2digits after the decimal point. If you do not follow these formatting and rounding rules, you may not receive credit for your answer. SALES RECORD from EXCEL:

Sale Occurred/100 calls

14

23

18

26

25

28

24

25

23

21

22

26

17

17

23

25

24

19

28

21

19

23

20

24

32

22

31

21

25

20

19

23

22

22

20

16

25

18

27

20

25

14

11

22

28

21

18

28

21

20

21

15

22

16

20

22

17

20

19

22

21

26

25

18

25

16

30

20

22

14

30

25

25

21

33

19

24

18

15

30

19

34

27

26

24

QUESTION 12

Based on the data for Question 11, what is the standard deviation of sales per 100 calls?

NOTE: Enter a numerical value only, do not include the $ sign; and round your response to 2 digits after the decimal point. If you do not follow these formatting and rounding rules, you may not receive credit for your answer.