A Manager Has Observed Sales for a Number of Days

question 28

Multiple Choice

A manager has observed sales for a number of days and developed the following table of probabilities. Which of the following distributions would be most appropriate for modeling the daily sales?
$\begin{array}{|c|c|}\hline \text { Daily Sales } & \text { Probability } \\\hline 100 & 0.40 \\\hline 200 & 0.05 \\\hline 300 & 0.50 \\\hline 400 & 0.05 \\\hline\end{array}$

• A) Normal distribution
• B) Triangular distribution
• C) Lognormal distribution
• D) Integer uniform distribution
• E) Custom discrete distribution

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Definitions:

Mean Number

The average value in a set of numbers, calculated by dividing the sum of all the numbers by the quantity of numbers.

T-test

A statistical test used to compare the means of two groups to determine if they are significantly different from each other.

Inference Conditions

Requirements that must be satisfied to validly use certain statistical inference methods.

Mean Annual Income

The average amount of money earned per year by an individual or household.