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Question
On a good day, Joe will sell an average of $50,000 of product. On a medium day he will sell $25,000 and on a bad day he will sell only $10,000. Suppose you observe Joe's business for 100 days and, during that time, he had 15 good days, 40 medium days and 45 bad days. If you draw a random number to represent his sales for the first simulated day and that number were 47, what kind of simulated day did Joe's business have? (Note: arrange the random number interval probability distribution so it starts with a good day at 00 followed by a medium day, etc.)
A. A good day
B. A medium day
C. A bad day
D. Can not be determined
E. Between medium and bad
Answer
This answer is hidden. It contains 1 characters.
Related questions
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