Calculate and interpret z- score for expenses

Reference no: EM13110236

Suppose that distribution of entertainment expenses is approximately normally distributed, compute estimates of tolerance intervals containing 68.26 percent, 95.44 percent, and 99.73 percent of all entertainment expenses by sales force.

If member of sales force submits the entertainment expense (dinner cost for four) of $190, must this expense be considered unusually high (and possibly worthy of investigation by the company)? Describe your answer

Calculate and interpret z- score for each of six entertainment expenses.

Reference no: EM13110236

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