The owner of a computer repair shop has determined that their daily revenue has mean $7200 and standarddeviation $1200. The daily revenue totals for the next 30 days will be monitored. What is the probability thatthe mean daily revenue for the next 30 days will exceed $7500?
A) 0.0853
B) 0.9131
C) 0.0869
D) 0.9147

Question

Quizplus · Accepted Answer

The probability that the mean daily revenue for the next 30 days will exceed $7500 is 0.0853. This is because the mean daily revenue is normally distributed with a mean of $7200 and a standard deviation of $1200. The z-score for a mean daily revenue of $7500 is (7500 - 7200) / 1200 = 0.25. The probability that the z-score will be greater than 0.25 is 0.0853.

The Owner of a Computer Repair Shop Has Determined That