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| *Vultures Knob>>>Bike Repair |
Statistics please help!!!? |
As the owner of Phat-Wheel Repairs you rely on revenue from bike repairs to pay your bills. While the number of customers per week can vary, you choose to assume 25 bike repairs per-week for your calculations. Use X to denote the revenue per bike repair. So you have to find the probability that your average repair will be worth $1200/25 = $48. We're saying that the expected average is $55 with a standard deviation of sqrt(400)=20. |
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