Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The owner of a small restaurant is trying to quantify the variation in the daily demand for takeout lunches. She has decided to assume that

The owner of a small restaurant is trying to quantify the variation in the daily demand for takeout lunches. She has decided to assume that the demand is normally distributed. She knows on average 100 takeout lunches are purchased daily and that 90% of the time, the daily demand is below 116.

a) What is the standard deviation of this distribution?

b) The owner of the restaurant wants to stock enough boxes each day so that the probability of running out of boxes is no higher than 0.05. What is the lowest number of boxes she should stock to achieve this?

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

Logic And Structure

Authors: Dirk Van Dalen

5th Edition

1447145585, 9781447145585

More Books

Students also viewed these Mathematics questions