Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. suppose that the average annual revenue of a small

Suppose that the average annual revenue of a small business is $120,000 with a standard...

70.2K

Verified Solution

Question

Accounting

Suppose that the average annual revenue of a small business is $120,000 with a standard deviation of $20,000. Assume that the revenue distribution is normal.

22. {Average Annual Revenue Narrative} What is the probability that one business selected at random makes less than $110,000?

23. {Average Annual Revenue Narrative} What is the probability that the average annual revenue of a random sample of 4 businesses is less than $110,000?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

You roll a six sided die Find the probability of each of the following scenarios...

Accounting
1.2K views

Jennifer decides that she will go into the tourist industry onLake Geneva, and buy...

Finance
1.2K views

Chamberlain Co. wants to issue new 14-year bonds for some much-needed expansion projects. The company currently...

Psychology
1.2K views

I h the book: The Stranger by Albert Camus - Summarize the overall plot and theme,...

Advance Math
1.2K views

The Knapsack problem is an optimization problem that asks to fill a knapsack with maximum possible...

Biology
1.2K views

Which part of the sampleintroduction is Section 3?A. This is the hook that gets the...

Basic Math
1.2K views

15. Plutonium-239 is the isotope that is most often used in nuclear reactors, and has...

Calculus
1.2K views

Consider the following piecewise defined function f x Answer Step 1 of 3 Evaluate this...

Calculus
1.2K views

A rectangle is bounded by the x and y axes and the graph of y...

Algebra
1.2K views

3x 2 4 x 2 Sx 10 and write the answer in simple

Accounting
1.2K views

Required informationSkip to question [The following information applies to the questions displayed below.] ...

Accounting
1.2K views

Current Attempt in Progress Blossom Department Store uses a perpetual inventory system. Data for product...