November 26, 2015

Homework Help: statistics

Posted by Anonymous on Wednesday, June 26, 2013 at 1:52pm.

2. The manager of a sandwich shop gathers data on what people spend on lunch on a particular day of the week.

The results are $4.20, $4.22, $2.35, $4.32, $5.25, $6.48, $6.78, $8.59, $6.95, $5.52, $6.83, $7.35, $4.36, $9.39, $6.42.

To the degree that this represents the population of all those who eat lunch at sandwich shops, what percentage of customers spend:
1. less than $4.34?
2. between $3.50 and $4.80?
3. less than $2.35?

Imagine that you are the manager of a sandwich shop. Based on your calculations, what do you think is the best pricing point for your shop? What would you do to increase sales at the sandwich shop?

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