Exciting Statistics from a Supermarket Grocery Store
How Can We Analyze Customer Spending at a Supermarket Grocery Store?
Customers who pay by personal checks at a supermarket grocery store spend an average of $87 on groceries with a standard deviation of $22. Let's find out the probability of customers spending more than $114 and the percentage of customers spending between $40 and $60 on groceries.
Analysis of Customer Spending at Supermarket Grocery Store
For the first part, we will calculate the probabilities using Z-scores to analyze customer spending patterns at a supermarket grocery store.
Understanding the Statistical Analysis
The given data provides insights into customer behavior at a supermarket grocery store. By calculating probabilities based on Z-scores, we can gain a better understanding of customer spending patterns.
a. Probability of spending more than $114: To calculate this probability, we will determine the Z-score for $114 using the mean and standard deviation provided. By referencing the Z table, we can find the corresponding probability for spending more than $114.
b. Percentage between $40 and $60: Another interesting analysis involves finding the percentage of customers who spend between $40 and $60 on groceries. By calculating Z-scores for both values and referencing the Z-table, we can determine this percentage.
By delving into these statistical analyses, we can uncover valuable insights into customer spending behaviors at the supermarket grocery store.