SOLUTION: The daily revenue of a boutique is normally distribution with a mean of $10,000 and a standard deviation of $2,000. Assume that the boutique works seven days a week. What is the pr
Algebra ->
Probability-and-statistics
-> SOLUTION: The daily revenue of a boutique is normally distribution with a mean of $10,000 and a standard deviation of $2,000. Assume that the boutique works seven days a week. What is the pr
Log On
Question 1153148: The daily revenue of a boutique is normally distribution with a mean of $10,000 and a standard deviation of $2,000. Assume that the boutique works seven days a week. What is the probability that there are two weeks in four non-overlapping weeks that the average daily revenue of the boutique is between $8,500 and $12,000? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! I am assuming exactly two weeks
This is z between (8500-10000)/2000 and (12000-10000)/2000 or z between -0.75 and +1.
That probability itself is 0.6147
To have 2 weeks would be 4C2*0.6147^2*0.3853^2, which is the binomial for choosing 2 out of 4 weeks with a certain probability for 2.
That is 0.3366
