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The Daily Sales of a Small Retail Store in Toronto

question 56

Multiple Choice

The daily sales of a small retail store in Toronto for the last 365 days are normally distributed with a mean of $2,050, and a standard deviation of $300. i. What is the probability of daily sales exceeding $2,500?
ii. From a sample of 49 days, what is the probability of having a sample mean less than $2,500?

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Definitions:

Molecular Formula

A representation of the actual number and type of atoms in a molecule, without indicating the structure or arrangement.

Type I Error

The mistake of rejecting the null hypothesis when it is actually true, often referred to as a "false positive."

Innocent Person

An individual who has not committed the crime or offense they are accused of.

Criminal Trial

A legal proceeding in which a person accused of committing a crime is tried in a court, judged, and then sentenced if found guilty.

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