Question

The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was observed over a long period of time to be approximately normally distributed, with mean 𝜇 = $625 and standard deviation 𝜎 = $47. 1: If $646 is budgeted for next week, what is the probability that the actual costs will exceed the budgeted amount? (Round your answer to four decimal places.) 2: How much should be budgeted for weekly repairs, cleaning, and maintenance so that the probability that the budgeted amount will be exceeded in a given week is only 0.06? (Round your answer to the nearest dollar.)

          The amount of money spent weekly on cleaning, maintenance, and
repairs at a large restaurant was observed over a long period of
time to be approximately normally distributed, with
mean 𝜇 = $625 and standard
deviation 𝜎 = $47.
1:  If $646 is budgeted for next week, what is the
probability that the actual costs will exceed the budgeted amount?
(Round your answer to four decimal places.)
2:   How much should be budgeted for weekly
repairs, cleaning, and maintenance so that the probability that the
budgeted amount will be exceeded in a given week is only 0.06?
(Round your answer to the nearest dollar.)

Show more…

Added by Alba M.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert Joanna Quigley

09/21/2023

Step 1

The z-score is calculated as follows: z = (X - 𝜇) / 𝜎 z = (646 - 625) / 47 z ≈ 0.4468 Now, we need to find the area to the right of this z-score in the standard normal distribution. We can use a z-table or a calculator to find the area. The area to the right of Show more…

Show all steps

lock

Thanks for your feedback!

The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was observed over a long period of time to be approximately normally distributed, with mean 𝜇 = $625 and standard deviation 𝜎 = $47. 1: If $646 is budgeted for next week, what is the probability that the actual costs will exceed the budgeted amount? (Round your answer to four decimal places.) 2: How much should be budgeted for weekly repairs, cleaning, and maintenance so that the probability that the budgeted amount will be exceeded in a given week is only 0.06? (Round your answer to the nearest dollar.)

Play audio

Feedback

Powered by NumerAI

Joanna Quigley and 84 other subject Intro Stats / AP Statistics educators are ready to help you.

Ask a new question

Labs

Want to see this concept in action?

NEW

Explore this concept interactively to see how it behaves as you change inputs.

View Labs

Key Concepts

Recommended Videos

Recommended Textbooks

Transcript

Ace is your personal tutor. It breaks down any question with clear steps so you can learn.

Start Using Ace

Continue solving this problem

Create a free account to:

View full step-by-step solution
Ask follow-up questions with Ace AI
Save progress and study later