dgbxt720 dgbxt720

23-12-2022
Business

Answered

Timmy owns a shop. His daily income from selling goods can be modeled as a normal distribution, with a mean daily income of $820, and a standard deviation of $230. To make a profit, Timmyâs daily income needs to be greater than $1000.
(a) Calculate the probability that, on a randomly selected day, Timmy makes a profit. (b) The shop is open for 24 days every month. Calculate the probability that, in a randomly selected month, Timmy
makes a profit on between 5 and 10 days (inclusive).

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