Approximate probability-average weekly postage expense

Reference no: EM13986129

Weekly postage expenses for your company have a mean of $312 and astandard deviation of $58. Your company has allowed $400 for postage per week inits budget.

(a) What is the approximate probability that the average weekly postage expense for the past 52 weeks will exceed the budgeted amount of $400?

(b) What information would you need to determine the probability that postage forone particular week will exceed $400? Why wasn't this information required for(a)?

Reference no: EM13986129

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