Find mean and standard deviation of the total revenue

Assignment Help Basic Statistics
Reference no: EM13140490

A restaurant has three sources of revenue: eat-in orders, takeout orders, and the bar. The daily revenue from each source is normally distributed with mean and standard deviation shown in the table below.

Mean Standard Deviation
Eat in $5,780 $142
Takeout 641 78
Bar 712 72

a. Will the total revenue on a day be normally distributed?
b. What are the mean and standard deviation of the total revenue on a particular day?
c. What is the probability that the revenue will exceed $7,000 on a particular day?

Reference no: EM13140490

Questions Cloud

What is miguel taxable income : What is Miguel's taxable income? How much gross income is recognized by each beneficiary?
What is the molarity of the malonic acid solution : A solution of malonic acid, H2C3H2O4 was standardized by titration w.1000M NaOH solution. If 20.76 mL of the NaOH solution were required to neutralize completely 13.15 mL of the malonic acid solution
What characteristics distinguish mollusks from annelids : How does the body plan of a mollusk differ from that of an annelid? What characteristics distinguish mollusks from annelids?
Are any parasitic diseases directly communicable : Are any parasitic diseases directly communicable from person to person? If so, how are they transmitted? What kinds of precautions should be taken in caring for persons with directly transmissible parasitic infections?
Find mean and standard deviation of the total revenue : A restaurant has three sources of revenue: eat-in orders, takeout orders, and the bar. What are the mean and standard deviation of the total revenue on a particular day?
What is the percent yield : Consider the following reaction. N2 + 3H2 -> 2NH3 . 28.0 grams of N2 and 5.04 grams of H2 are reacted, producing 17.8 grams of NH3. What is the percent yield?
What specific tests of controls might auditor : This step in the audit process seeks to ascertain that control policies and procedures are operating effectively. What specific tests of controls might auditor have performed in evaluating this payroll system?
Find a concise definition of cancer : find a concise definition of "cancer". How might methods to treat cancer relate to the details in this lab exercise.
What is the mass of water : if the empty cylinder has the mass of 94.2g and the cylinder with water has the mass of 138.7 g what is the mass of water, volume of water and the density of water.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Unusual result of testing claims

A candy company claims that 92% of consumers like their candies. To test this claim, 9571 people are selected at random from those who have eaten the company's candies.

  Probability of selecting female student

A survey of undergraduate students in the School of Business at Northern University revealed the following regarding the gender and majors of the students:

  Compute time needed for five simulated maintenance checks

Using random numbers of 0.1567, 0.9823, 0.3419, 0.5572 and 0.7758, compute the time required for each of five simulated maintenance checks of the airplane's landing gear.

  Information about applying stats

Dr. S wishes to measure the effect of TV viewing on reading scores in elementary school children. The data for the sample are shown here. Assume the population is normal.

  Calculate the control limits for a c-chart

Calculate the control limits for a c chart when Ubar = 3.0%, n = 60, and you collect one sample per hour for 40 hours of production. (2 sets of control limits required, x bar and range)

  Probabilities and simple events

When assigning probabilities of two simple events, can we assume that each event is always equally likely to occur and, thus assign .5 to each event?

  Information about prediction

Your company produces a product in a market that has grown by 10% per year for the past 15 years. According to your estimate, the market is currently at 30% of saturation. Predict sales for the next 20 years.

  What is a 95% confidence interval for the odds ratio

What is the intercept for the logistic regression equation and What is a 95% confidence interval for the odds ratio

  Binomial distribution formula to calculate probability

According to the survey, 37% of the adults are concerned that employers are monitoring phone calls. Use the binomial distribution formula to calculate the probability that:

  Chi-square goodness-of-fit test

What is the chi-square goodness-of-fit test? What are the differences/similarities between this test and an independent t-test? How do you know when to use one analysis over the other? Show an example.

  Null hypothesis-paranormal researcher

A skeptical paranormal researcher claims that the proportion of Americans that have seen a UFO is less than 1 in every one thousand. State the null hypothesis and the alternative hypothesis for a test of significance.

  Random sample for grill owners

In a simple random sample of 1000 households, 150 households happen to own a barbecue grill. Based on the characteristics of the population, the expected number of grill owners in the sample was 180.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd