Purchase Solution

Suppose it is known that the distribution of purchase amounts by customers entering a popular retail store is approximately normal with mean $25 and standard deviation $8.

Not what you're looking for?

Ask Custom Question

Suppose it is known that the distribution of purchase amounts by customers entering a popular retail store is approximately normal with mean $25 and standard deviation $8.
a) What is the probability that a randomly selected customer spends less than $35 at this store?
b) What is the probability that a randomly selected customer spends between $15 and $35 at this store?
c) What is the probability that a randomly selected customer spends more than $10 at this store?
d) Find the dollar amount such that 75% of all customers spend no more than this amount?
e) Find the dollar amount such that 80% of all customers spend at least this amount?
f) Find two dollar amounts, equidistant from the mean of $25, such that 90% of all customer purchases are between these values?

Purchase this Solution

Solution Summary

Suppose it is known that the distribution of purchase amounts by customers entering a popular retail store is approximately normal with mean $25 and standard deviation $8.

Solution Preview

Please see the attached file.

Suppose the purchase amount is X. Then the mean of X is m=25 and the standard deviation of X is d=8
Now let Y=(X-25)/8, then Y follows the standard normal distribution and X=8Y+25.
The following calculation will be done by the normal standard ...

Purchase this Solution


Free BrainMass Quizzes
Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.