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SYM-506 MODULE 4 HW

# SYM-506 MODULE 4 HW - SYM 506 Applied Business Probability...

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SYM 506 - Applied Business Probability & Statistics Gerald McGill Grand Canyon University Module Four - Problem Set Week 4 P6 - 03 Distribution of Purchase Amounts by Customers Entering a Popular Retail Store Mean \$25 Stdev \$8 A) Z Value = (35-25)/8 = 1.25 Probability that a randomly selected customer spends less than \$35 at the store = B) Z Value = (35-25)/8 = 1.25 P(X<35)=(35-25)/8 = Z Value = (15-25)/8 = -1.25 P(X>15)=(15-25)/8 = 0.89 - 0.11 = Probability that a randomly selected customer spends between \$15 and \$35 at the store = C) Z Value = (10-25)/8 = -1.88 P(X>10)=(10-25)/8 = Probability that a randomly selected customer spends more than \$10 at the store = D) The dollar amount such that 75% of all customers spend more than this amount = E) The dollar amount such that 80% of all customers spend at least this amount = F) Dollar amounts equidistant from the mean of \$25, such that 90% of all customer = purchases are between these values = P6 - 08 Distribution of a Typical Televised Baseball Game in Hours (Assume two games a day, one starting at Mean 2.45 Stdev 0.37 A)

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SYM-506 MODULE 4 HW - SYM 506 Applied Business Probability...

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