View the step-by-step solution to:

Question

the amount of moneyScreen Shot 2019-10-15 at 10.25.47 AM.png

Screen Shot 2019-10-15 at 10.25.47 AM.png

The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was observed over a long period of time to be approximately normally
distributed, with mean [1 = $613 and standard deviation 0 = $37.
(a) If $646 is budgeted for next week, what is the probability that the actual costs will exceed the budgeted amount? (Round your answer to four decimal places.)
0.6276 x (b) How much should be budgeted for weekly repairs, cleaning, and maintenance so that the probability that the budgeted amount will be exceeded in a given week is
only 0.08? (Round your answer to the nearest dollar.) $

Top Answer

Here's the explanation you needed for... View the full answer

Sign up to view the full answer

Other Answers

The answer is; The probability that the actual costs... View the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question