Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

OO IDEAS Course Hero * Course Hero X * Homework Help - Q&A from Onl X + X C imathas.humber.ca/assess2/?cid=493&aid=17434#/skip/6 To M Apps YouTube NBA

image text in transcribed
OO IDEAS Course Hero * Course Hero X * Homework Help - Q&A from Onl X + X C imathas.humber.ca/assess2/?cid=493&aid=17434#/skip/6 To M Apps YouTube NBA streams, NHL.. Blackboard OO Statistics Reading list Question 6 20 p 1hr8mins Loyalty programs are a great promotional idea for retail stores to show their appreciation of repeat customers. A certain retail store wants to adopt a new platform for its loyalty program. Instead of blanket promotions, they classify customers depending on what amount they spend and approach them with personalized offers. The expectation of the management is that after this promotional policy is advertised, the expenditures for all customers at this retail store will be normally distributed with a mean of $68 and a standard deviation of $17. (a) If the management's assumptions are correct, what percent of customers will spend $33 or less? Using your calculations, round the z-value to 2 decimal places and enter the z- value here: Express the final answer in percentage, round to 2 decimal places (for example, 0.0735 should be converted to 7.35%). and enter here: (b) What percent of customers will spend between $33 and $76? Express the final answer in percentage, round to 2 decimal places (for example, 0.0735 should be converted to 7.35%), and enter here: c) The management wants to give extra points of loyalty program to 9%% of the customers who spend most. What would be the amount which separates top 9%% of the distribution from the bottom 91%? Using your solution, enter the z-value in 2 decimal places here: Round the final answer to 2 decimal places and enter here: Question Help: @ Message instructor Add Work Type here to search O W -5'C Mostly cloudy ~ 91 13 7 () 3:16 PM + 2022-02-23 56

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

First Course In Mathematical Logic

Authors: Patrick Suppes, Shirley Hill

1st Edition

0486150941, 9780486150949

More Books

Students also viewed these Mathematics questions