On a typical weekday in January, 4200 customers visit the lo…

On a typical weekday in January, 4200 customers visit the local Wal-Mart. It is estimated that, on average, there are 350 customers in the store. Assuming that the store is open 14 hours a day, how much time (in hours) does the average customer spend in the store?

A small retailer is considering various monthly plans for pu…

A small retailer is considering various monthly plans for purchasing electricity. They can pre-purchase kWhs at the cost of 4.5 cents per kWh.  If they don’t use all of the kWhs they purchase, then there is no refund for the unused electricity. If they need more kWhs than they purchase, the extra kWhs are purchased at the rate of 6 cents per kWh.  Their forecast for kWh usage per month is normally distributed with a mean of 6000 and a standard deviation of 2500. What is the cost of over-estimation?