The Monthly Sales at a Gas Station Have a Mean

question 112

Essay

The monthly sales at a Gas Station have a mean of $50,000 and a standard deviation of $6,000.Profits are calculated by multiplying sales by 40% and subtracting fixed costs of $12,000.Find the mean and standard deviation of monthly profits.

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Definitions:

Steps

Sequential actions or procedures followed to achieve a particular end.

Organizational Strategies

Plans or methodologies applied by businesses or institutions to reach goals, optimize performance, and manage resources efficiently.

Efficiency

The ratio of the useful work performed by a machine or in a process to the total energy expended or heat taken in.

Productivity

The measure of efficiency in which goods and services are produced, often evaluated by the output per unit of input.