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Unformatted text preview: customer spends less than $35 at this store? customer spends between $15 and $35 at this store? customer spends more than $10 at this store? spend no more than this amount. spend at least this amount. mean of $25, such that 90% of all customer purchases are between these values. A.) *Press F2 to view work z(35) = 1.25 Answer broken down without formula= P(x<35) = 0.89 Answer broken down without formula= B.) z(15) = 1.25 Answer broken down without formula= P(15 < x < 35) =0.79 Answer broken down without formula= C.) z(10) =1.88 Answer broken down without formula= P(x>10) = 0.03 Answer broken down without formula= a. What is the probability that a randomly selected b. What is the probability that a randomly selected c. What is the probability that a randomly selected d. Find the dollar amount such that 75% of all customers e. Find the dollar amount such that 80% of all customers f. Find two dollars amounts, equidistant from the D.) z(.75) = 0.6745 Answer broken down without formula= Dollar Amount= $50.40 Answer broken down without formula= E.) z(.20) =0.8416 Answer broken down without formula = Dollar Amount= $38.27 Answer broken down without formula = F.) z(.05) =1.6449 Answer broken down without formula = z(.95) = 1.6449 Answer broken down without formula = Dollar amount for z(.05) = $31.84 Answer broken down without formula = Dollar amount for z(.95) = $58.16 Answer broken down without formula = z(35) = (3525)/8 = 1.25 P(x<35) = P(z<1.25) = 0.8944 z(15) = (1525)/8 = 1.25 P(15 < x < 35) = P(1.25< z < 1.25) =0.7887 z(10) = (1025)/8 = 1.875 P(x>10) = P(x>z(=1.875)) = .030396 zvalue which is 75% to the left: NormsInv(0.75) = 0.6745 x = 0.6745*8 + 45 = $50.40 zvalue which is 80% to the Right: NormsInv(0.20) = 0.6745 x = 0.8416*8+25 = $38.27 zvalue which is 5% to the left: NormsInv(0.05)= 1.645 zvalue which is 5% to the right: NormsInv(0.95)= 1.645 x = 1.6449*8+25 = $31.84 x = 1.6449*8+25 = $58.27 the next show, that is, go past 5:00? show can be inserted into the 4:305:00 slot. What is the probability of this occurring? A.) P(X>3) = 1.4865 Answer broken down without formula= P(X>3) = (32.45)/.37 P(X>3) = 0.43 Answer broken down without formula= P(X>3) = 1[ P(Z<0)+P B.) P(X>2.5) = 0.14 Answer broken down without formula= P(X<2.5) = P(Z<(2.52 P(X>2.5) = 1.05 Answer broken down without formula= P(X<2.5) = P(Z<0) + a. What is the probability that the game will cut into b. If the game is over before 4:30, another halfhour = 1.49 P(0<1.49)]2.45)/0.37) P(0<0.14) difference at a= 0.10? Explain your answer....
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 Spring '10
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 Economics

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