Estimate the probability that the? store revenues

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Reference no: EM132441019

Situation 1: A grocery? store's receipts show that Sunday customer purchases have a skewed distribution with a mean of ?$27

and a standard deviation of ?$20 Suppose the store had 321 customers this Sunday.

?a) Estimate the probability that the? store's revenues were at least ?$9,200.

?b) If, on a typical? Sunday, the store serves 321?customers, how much does the store take in on the worst 10?% of such? days?

Situation 2: A waitress believes the distribution of her tips has a model that is slightly skewed to the left?, with a mean of ?$8.50 and a standard deviation of ?$5.2 She usually waits on about 60 parties over a weekend of work.

?a) Estimate the probability that she will earn at least ?$600

?b) How much does she earn on the best 5?% of such? weekends?

Reference no: EM132441019

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