The Daily Revenue at a University Snack Bar Has Been

question 45

Multiple Choice

The daily revenue at a university snack bar has been recorded for the past five years. Records indicate that the mean daily revenue is $1500 and the standard deviation is $500. The distribution is skewed to the right due to several high volume days (football game days) . Suppose that 100 days are randomly selected and the average daily revenue computed. Which of the following describes the sampling distribution of the sample mean?

• A) normally distributed with a mean of $1500 and a standard deviation of $500
• B) skewed to the right with a mean of $1500 and a standard deviation of $500
• C) normally distributed with a mean of $150 and a standard deviation of $50
• D) normally distributed with a mean of $1500 and a standard deviation of $50

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Definitions:

Sale Occurs

The point at which a transaction is recognized, involving the transfer of goods or services from a seller to a buyer for money.

Enterprise

A business or company that engages in commercial, industrial, or professional activities.

Sells Goods

Describes the action or process where a business entity offers physical products to consumers in exchange for payment.

Retailer

A business that sells goods directly to consumers, typically in small quantities.