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A Vancouver store sells a one day two hour children events tickets. Once-a-week on sale 2. . starts on Monday. Monday-to-Wednesday demand for the tickets can be approximated by a normal probability distribution with a mean of 500 and a standard deviation of 120. The tickets cost $1.50 each, and the store sells them for $3 each. (a) If the store throws out all unsold tickets at the end of Wednesday, how many tickets should be ordered? (b) If the store reduces the ticket price to $1 each at the end of Wednesday and can sell all surplus tickets at this price, how many tickets should be ordered?

A Vancouver store sells a one day two hour children events tickets. Once-a-week on sale 2. . starts on Monday. Monday-to-Wednesday demand for the tickets can be approximated by a normal probability distribution with a mean of 500 and a standard deviation of 120. The tickets cost $1.50 each, and the store sells them for $3 each. (a) If the store throws out all unsold tickets at the end of Wednesday, how many tickets should be ordered? (b) If the store reduces the ticket price to $1 each at the end of Wednesday and can sell all surplus tickets at this price, how many tickets should be ordered?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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A Vancouver store sells a one day two hour children events tickets. Once-a-week on sale 2. - starts on Monday. Monday-to-Wednesday demand for the tickets can be approximated by a normal probability distribution with a mean of 500 and a standard deviation of 120. The tickets cost $1.50 each, and the store sells them for $3 each. (a) If the store throws out all unsold tickets at the end of Wednesday, how many tickets should be ordered? (b) If the store reduces the ticket price to $1 each at the end of Wednesday and can sell all surplus tickets at this price, how many tickets should be ordered?
Transcribed Image Text:A Vancouver store sells a one day two hour children events tickets. Once-a-week on sale 2. - starts on Monday. Monday-to-Wednesday demand for the tickets can be approximated by a normal probability distribution with a mean of 500 and a standard deviation of 120. The tickets cost $1.50 each, and the store sells them for $3 each. (a) If the store throws out all unsold tickets at the end of Wednesday, how many tickets should be ordered? (b) If the store reduces the ticket price to $1 each at the end of Wednesday and can sell all surplus tickets at this price, how many tickets should be ordered?
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