Five percent of the supermarket items cost, Basic Statistics

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Five percent of the supermarket items cost

The cost per item at a supermarket follows an exponential distribution. There are many inexpensive items and a few relatively expensive ones. The mean cost per item is $11.00. What is the percentage of items that cost:

(a) Less than $8.00?

(b) Find the 55th percentile. Forty five percent of the supermarket items cost more than what amount?

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Basic Statistics: Five percent of the supermarket items cost

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Basic Statistics: Five percent of the supermarket items cost

Reference No:- TGS0853633

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Ask an Expert for Answer!!

Basic Statistics: Five percent of the supermarket items cost

Reference No:- TGS0853633

Recent Questions Asked Basic Statistics

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