Check Answers and Help with the last one please
Message posted by Linda (via 152.163.197.81) on June 9, 2001 at 11:52 AM (ET)

Stuart has observed that the daily revenues for his store follow an approximately normal distribution with mean=$550 and Standard deviation=$175

1) find the probability that the revenues for a day chosen at random will be between $500 and $600
Answer 22.82 or 23%

2) Stuart has determined that to make a profit he must take in revenues of at least $675. What is the probability that he will make a profit?

Answer 26.11 or 26%

3) Determine the probability that the sample mean revenues for a random sample of 49 days will be between $500 and $575.

Answer 81.85 or 82%

4) To "break even", Stuart has to decide that no more than 10% of his daily revenues can be below a certain value. Find this "cut off" number

I don't know how to do this????

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Re: Check Answers and Help with the last one please
Message posted by JG (via 128.8.23.133) on June 9, 2001 at 3:52 PM (ET)