Suppose the Local Best Buy Store Averages 483 Customers Per

question 98

Multiple Choice

Suppose the local Best Buy store averages 483 customers per day entering the facility with a standard deviation of 112 customers. A random sample of 48 business days was selected. What is the probability that the average number of customers in the sample is between 480 and 500?

• A)0.2521
• B)0.4284
• C)0.1579
• D)0.3377

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Definitions:

Business Relationship

A formal association between companies or individuals involved in professional activities, typically characterized by cooperation and transactions.

Production Function

A mathematical relation connecting inputs (like labor and capital) to the quantity of output that can be produced.

Marginal Product

The additional output resulting from the use of one more unit of a production input, holding all other inputs constant.

Labor Hours

The total number of hours worked by employees within a specific period.