Solution-Determine the probability that a given party will

Determine the probability that a given party will give tip

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Question: More tips. The waiter in Exercise usually waits on about 40 parties over a weekend of work.

a) Estimate the probability that he will earn at least $500 in tips.

b) How much does he earn on the best 10% of such weekends?

Exercise: Tips. A waiter believes the distribution of his tips has a model that is slightly skewed to the right, with a mean of $9.60 and a standard deviation of $5.40.

a) Explain why you cannot determine the probability that a given party will tip him at least $20.

b) Can you estimate the probability that the next 4 parties will tip an average of at least $15? Explain.

c) Is it likely that his 10 parties today will tip an average of at least $15? Explain.

Reference no: EM131648854

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Determine the probability that a given party will give tip

Reference no: EM131648854

Reference no: EM131648854

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