Find probability of mean daily revenue

Assignment Help Basic Statistics

Reference no: EM13113665

The owner of a convenience store has determined that their daily revenue has mean $7200 and standard deviation $1200. The daily revenue totals for the next 30 days will be monitored. What is the probability that the mean daily revenue for the next 30 days will be between $7000 and $7500?

Reference no: EM13113665

Questions Cloud

Calculate probability to receive exactly three a grade : The probability Mary will receive an A in a class is 0.62. Assuming independence, if she is taking 5 classes this semester, calculate the probability she will receive exactly 3 A's.

What two things does the human body adjust to maintain : Putting it all together, what two things does the human body adjust to maintain a smooth contraction as the weight it bears varies?

What are negative effects of illegitimate political behavior : What are negative effects of illegitimate political behavior on victims, such as those described in the above case, what might be some negative effects on the perpetrators?

What is the difference between males and females : What is the difference between males and females in terms of gamete energy allocation? Why is it beneficial for females and why for males?

Find probability of mean daily revenue : The daily revenue totals for the next 30 days will be monitored. What is the probability that the mean daily revenue for the next 30 days will be between $7000 and $7500?

What is the mass of the reactants : A 14.0 g sample of X combines with a 26.2 g sample of Y to form the compound XY2. What is the mass of the reactants.

Prepare journal entries to record the following retirement : Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.)The December 31, 2010 balance sheet of Wolfe Co. included the following items: 7.5% bonds payable due December 31, 2018 $1,200,000

Computing sample size : What minimum sample size will be required if they want to be 99% confident that the sample proportion will not differ from the true population proportion by more than 5%?

Briefly give a two page overview of issues facing industries : Briefly give a two page overview of issues facing industries who must market products that may not be an "easy sell". What impacts the change relationship when the customer doesn't particularly want to BE a customer?

User Account

All Pages