Question
The management of a supermarket wants to adopt a new promotional policy of giving a free gift to every customer who spends more than a
The management of a supermarket wants to adopt a new promotional policy of giving a free gift to every customer who spends more than a certain amount per visit at this supermarket. The expectation of the management is that after this promotional policy is advertised, the expenditures for all customers at this supermarket will be normally distributed with a mean of 75$and a standard deviation of 22$. If the management wants to give free gifts to at most 11.7%of the customers, what should the amount be above which a customer would receive a free gift?
Round your answer to two decimal places.
A customer should spend at leastto receive a free gift.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started