In a Restaurant, the Proportion of People Who Order Coffee

question 25

Essay

In a restaurant, the proportion of people who order coffee with their dinner is 0.9. A simple random sample of 144 patrons of the restaurant is taken.
a.What are the expected value, standard deviation, and shape of the sampling distribution of?
b.What is the random variable in this problem? Define it in words.
c.What is the probability that the proportion of people who will order coffee with their meal is between 0.85 and 0.875?
d.What is the probability that the proportion of people who will order coffee with their meal is at least 0.945?

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Definitions:

Sales

The total amount of income generated by the selling of goods or services by a company during a certain period.

Manufacturing Costs

Refers to the total expenses incurred in the process of producing a product, including raw materials, labor, and overhead costs.

Variable Costing

An accounting method that only includes variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs, treating fixed costs as period expenses.

Absorption Costing

An accounting method that includes all manufacturing costs (direct costs, fixed, and variable overheads) in the cost of a product.