At your supermarket, the typical shopper spends $18.93 with a
1. At your supermarket, the typical shopper spends $18.93 with a standard deviation of $12.52.
You are wondering what would happen in a typical morning hour with 400 typical shoppers, assuming that each one shops independently. How likely it is that you will exceed $8,000 in total sales for all 400 shoppers.
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2. You are evaluating two portfolios for your personal investment on the basis of their return.
Portfolio A’s yearly return is normally distributed with a mean of 0.05 and a standarddeviation of 0.07. Portfolio B’s yearly return is normally distributed with a mean of 0.04and a standard deviation of 0.06. Based on this information, what is the probability thatover the next year, the return on portfolio A is lower than the return on portfolio B?
