Suppose a baker wants to know, on average, how many pastries they sell in a day. They sampled over 4 days. On the first day they sold 10, on the second day they sold 12, on the third day they sold 18, and on the fourth day they sold 16. The population standard deviation of pastry sales is 3. What is the point estimate (average) number of pastries sold? 26 08 056 O 14 Nex
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- Historical data show that customers who download music from a popular Web service spend approximately $20 per month, with a standard deviation of $3. Assume the spending follows the normal probability distribution. Find the probability that a customer will spend at least $18 per month. How much (or more) do the top 7% of customers spend? What is the probability that a customer will spend at least $18 per month? 0.7475 (Round to four decimal places as needed.) How much do the top 7% of customers spend? (Round to the nearest cent as needed.)Assume that the traffic to the web site of Smileys People, Inc., which sells customized T-shirts, follows a normal distribution, with a mean of 4.5 million visitors per day and a standard deviation of 820,000 visitors per day. a. What is the probability that the web site has fewer than 5 million visitors in a single day? b. What is the probability that the web site has 3 million or more visitors in a single day? c. What is the probability that the web site has between 3 million and 4 million visitors in a single day? d. Assume that 85% of the time, the Smileys People web servers can handle the daily web traffic volume without purchasing additional server capacity. What is the amount of web traffic that will require Smileys People to purchase additional server capacity?Havana Hats makes the world's best hats. Information for the last eight months follows: Month January February March April May June July August Number of Hats Produced 6,750 2,800 3,250 4,250 7,800 3,700 Intercept X Variable 1 6,150 6,800 r Suppose that Havana expects to sell 4,700 hats during the month of September and that each hat sells for $2.75. Havana performed a least-squares regression and obtained the following results: Total Cost $ 7,500 3,900 4,200 5,050 8,150 4,450 6,900 7,520 Coefficients 1,255.09 0.91 Contribution margin Required: Prepare Havana's contribution margin income statement for the month of September. Note: Round your answers to 2 decimal places. Havana Hats Contribution Margin Income Statement Month of September
- A sample of 5 months of sales data provided the following information. Month 1 2 3 4 5 Units Sold 96 101 82 90 96 (a) Develop a point estimate of the population mean number of units sold per month. 93 Correct: Your answer is correct. (b) Develop a point estimate of the population standard deviation. (Round your answer to two decimal)A simple random sample of 5 months of sales data provided the following information: a. Develop a point estimate of the population mean number of units sold per month. b. Develop a point estimate of the population standard deviation.The results of a national survey showed that on average, adults sleep 6.9 hours per night. Suppose that the standard deviation is 1.2 hours and that the number of hours of sleep follows a bell-shaped distribution. a. Use the empirical rule to calculate the percentage of individuals who sleep between 4.5 and 9.3 hours per day. b. What is the z-value for an adult who sleeps 8 hours per night? c. What is the z-value for an adult who sleeps 6 hours per night?
- Suppose that the base market is 500,000 out of 10M population, determine the net sales given the following. Awareness is 55%, Trial is 30%, Availability is 100%. Purchase frequency is 30.2%, Units bought per purchase is 4.25, price is 25.50 per unit and cannibalization rate of 40%. Net sales is ______. Round off to 2 decimal placesThe number of chocolate chips in an 18-ounce bag of chocolate chip cookies is approximately normally distributed with mean 1252 and standard deviation 129 chips (a) What is the probability that a randomly selected bag contains between 1100 and 1500 chocolate chips? (b) What is the probability that a randomly selected bag contains fewer than 1000 chocolate chips? (c) What proportion of bags contains more than 1200 chocolate chips? (d) What is the percentile rank of a bag that contains 1475 chocolate chips? Click the icon to view a table of areas under the normal curve GETTIa. Assume that the cost of goods sold is 60% and that the monthly discount rate is 1%. Looking at the values in the exhibit above, you note that the average monthly revenue for a subscribed customer rises as the company sends more emails. In addition, the average monthly revenue for an unsubscribed customer also rises as the company sends more emails. What could explain both of these patterns? b. Calculate the 6-month LTV for each of the four tested email frequencies. Please show the spreadsheet with your calculations and be clear about any assumptions you are making. c. Based on this test, how many emails-per-week should the company be sending to its customers? This email frequency should apply to all customers; the company doesn't want to implement a different email frequency for different kinds of people
- It has been found from experience that an exclusive clothes shop makes anaverage of four sales every fifteen minutes. If we randomly select a fifteenminute period, what is the probability that the shop will make: Less than three sales? Interpret your answer.Angie’s Bakery bakes bagels. The June production is given below. 290 290 290 450 290 290 330 290 290 290 290 450 290 290 450 330 450 450 290 340 290 440 290 290 330 440 330 330 290 440 Find the weighted mean. Note: Round your answer to the nearest whole number.Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price $2.60 Number Sold 760 $3.40 510 $1.90 990 $4.20 250 $3.10 320 $4.10 490 Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for mocha latte coffees will be (enter your response rounded to one decimal place). cups