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the owner of a computer repair shop has determined that their daily revenue has mean $7200 and standard deviation $1200. the daily revenue totals for the next 30 days will be monitored. what is the probability that the mean daily revenue for the next 30 days will be less than $7000?



Answer :

The necessary probability is 0.8186.

Take into account the details offered.

The daily revenue is $7200 on average, with a $1200 standard deviation.

u=7200 and s=1200

The following 30 days' worth

sx= s/sqrt(n) = 1200/sqrt(30) =219.089

As we know

z= x-u/sx

x=7000

u=7200

sx=219.089

Substitute in above formula.

z=7000-7200/219.089

z= -200/219.089

z= -0.912

According to the standard normal table, P(Z > -0.912) = 0.8186

Consequently, 0.8186 is the required probability.

To learn more about probability click here:

brainly.com/question/9793303

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