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Statistical Techniques in Business and Economics | 15th Edition | ISBN: 9780073401805 | Authors: Douglas Lind, William Marchal, Samuel Wathen
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Best Electronics Inc. offers a no hassle returns policy. The number of items returned

Chapter 0, Problem 55

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QUESTION:

Best Electronics Inc. offers a no hassle returns policy. The number of items returned per day follows the normal distribution. The mean number of customer returns is 10.3 per day and the standard deviation is 2.25 per day.

a. In what percent of the days are there 8 or fewer customers returning items?

b. In what percent of the days are between 12 and 14 customers returning items?

c. Is there any chance of a day with no returns?

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QUESTION:

Best Electronics Inc. offers a no hassle returns policy. The number of items returned per day follows the normal distribution. The mean number of customer returns is 10.3 per day and the standard deviation is 2.25 per day.

a. In what percent of the days are there 8 or fewer customers returning items?

b. In what percent of the days are between 12 and 14 customers returning items?

c. Is there any chance of a day with no returns?

ANSWER:

Step 1 of 4

Mean number of customer returns is  per day and the standard deviation is  per day.

Let  be the number of customers returning items.

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