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A supermarket has determined that daily demand for egg cartons has an approximate mound-shaped distribution, with a mean of 55 cartons and a standard deviation of 6 cartons.
a. For what percentage of days can we expect the number of cartons of eggs sold to be between 49 and 61?
b. For what percentage of days can we expect the number of cartons of eggs sold to be more than 2 standard deviations from the mean?
c. If the supermarket begins each morning with a stock of 77 cartons of eggs, for what percentage of days will there be an insufficient number of cartons to meet the demand?
Simple Rate
A simple interest rate is calculated only on the principal amount of a loan or investment, without compounding over time.
Interest Charged
The amount of money charged by a lender to a borrower for the use of borrowed funds, expressed as a percentage of the principal.
Investment Matured
An investment matured refers to when an investment reaches its due date and the principal amount is returned to the investor along with any final interest payments.
Interest Amount
The sum paid or charged for the use of money or for borrowing money.
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