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Determine the minimum monthly sales

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Reference no: EM132866259

(a) The monthly sales of cafes of the Delicious Cafe Group are approximately normally distributed with a mean of $100,000 and a standard deviation of $15,000.

(i) What is the probability that a randomly selected cafe has a monthly sales exceeding $135,000?

(ii) The Delicious Cafe Group will close the bottom 5% of cafes in monthly sales. Determine the minimum monthly sales that a cafe must achieve so that it will not be closed.

(iii) If a random sample of 6 cafes is selected, what is the probability that the lowest monthly sales in the sample will be less than $80,000?

Reference no: EM132866259

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