Suppose the Local Best Buy Store Averages 522customers Every Day

question 72

Multiple Choice

Suppose the local Best Buy store averages 522customers every day entering the facility with a standard deviation of 124 customers.A random sample of 40 business days was selected.What is the probability that the average number of customers in the sample is between 530 and 540?

• A) 0.2387
• B) 0.1621
• C) 0.3057
• D) 0.0572

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Definitions:

Levied

Imposed or collected, usually referring to taxes, duties, or other charges by an authority.

Demand Curve

A chart that illustrates the connection between a product's cost and the amount of the product customers are prepared to buy at different price levels.

Equilibrium Quantity

The amount of products or services available and sought at the balance price, where the supplied quantity matches the demanded quantity.

Tax Revenue

The revenue collected by governments via taxes, which is allocated to finance public services and meet governmental duties.