The total daily dollar sales in the ACME supermarket is represented by the outcome of the random
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The total daily dollar sales in the ACME supermarket is represented by the outcome of the random variable \(S\) having a mean of 20, where \(s\) is measured in thousands of dollars.
(a) The store manager tells you the probability that sales will exceed \(\$ 30,000\) on any given day is .75 . Do you believe her?
(b) You are now given the information that the variance of the random variable \(S\) is equal to 1.96 . How probable is the sales event that \(s \in(10,30)\) ?
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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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