Concept explainers
Focus Problem: Impulse Buying Let x represent the dollar Amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. Based on a Denever post article, the mean of the x distribution is about $20 and the estimated standard deviation is about $7.
(a) Consider a random sample of n = 100 customers, each of whom has
10 minutes of unplanned shopping time in a supermarket. Rom the central limit theorem, what can you say about the probability distribution of
(b) What is the probability that
(c) Let us assume that x has a distribution that is approximately normal. What is the probability that x is between $18 and $22?
(d) Interpretation In part (b), we used
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Chapter 7 Solutions
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