The Following Frequency Table Summarizes the Ages of 60 Shoppers

question 34

Short Answer

The following frequency table summarizes the ages of 60 shoppers at the local farmer's market.
The estimated mean is 36.25, and estimated standard deviation is 13.57. Calculate the probability for each interval, assuming a normal distribution.

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Definitions:

Profit

The financial gain achieved when the amount earned from selling goods or services exceeds the costs associated with production or procurement.

Speeding Ticket

A penalty issued by law enforcement to drivers exceeding the legal speed limit.

Revenue Per Mile

A financial metric often used in transportation and delivery industries to measure the amount of income generated per mile of operation.

Profit Maximization

The technique used by firms to pinpoint the price and amount of production that results in the largest profit.