The daily dollar sales of a large retail Big Box store, measured in 1,000 dollar units, is
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The daily dollar sales of a large retail "Big Box" store, measured in 1,000 dollar units, is a random variable, \(D\), that has an expectation of 20.
(a) Provide an upper bound to the probability that dollar sales exceed 40,000 dollars on a given day.
(b) If the variance of \(\mathrm{D}\) is 4, define an interval in which dollar sales will occur on any given day with probability \(\geq .95\).
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Related Book For
Mathematical Statistics For Economics And Business
ISBN: 9781461450221
2nd Edition
Authors: Ron C.Mittelhammer
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