The Daily Revenue at a University Snack Bar Has Been

question 44

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 $3450 and the standard deviation is $300. 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 $345 and a standard deviation of $30
• B)normally distributed with a mean of $3450 and a standard deviation of $30
• C)skewed to the right with a mean of $3450 and a standard deviation of $300
• D)normally distributed with a mean of $3450 and a standard deviation of $300

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Definitions:

Gross Domestic Product (GDP)

Sum of all goods and services produced within a country’s boundaries during a specific time period, such as a year.

Exports and Imports

The act of selling goods and services to another country (exports) and buying goods and services from another country (imports).

Washing Machines

Household appliances designed to clean laundry by combining water, detergent, and mechanical action to remove dirt from clothes, linens, and other fabrics.

Manufactured

The process of producing goods on a large scale using labor, machines, tools, and chemical or biological processing or formulation.