SOLUTION: The owner of a company repair shop has determined that their daily revenue has mean $7200 and a standard deviation $1200. the daily revenue totals for the next 30 days will be moni
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-> SOLUTION: The owner of a company repair shop has determined that their daily revenue has mean $7200 and a standard deviation $1200. the daily revenue totals for the next 30 days will be moni
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Question 1100883: The owner of a company repair shop has determined that their daily revenue has mean $7200 and a 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 exceed $7000? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! this will be greater than z=(xbar-mean)/sigma/sqrt(n)
z>(7000-7200)/(1200/sqrt(30)
>-200*sqrt(30)/1200>-0.91
This probability is 0.8186.
