Ryan buys some jumpers to sell on a stall. He spends £160 buying 80 jumpers.
He sells 75% of the jumpers for £10 each.
He then puts the rest of the jumpers on a Buy one get one half price offer.
He manages to sell half the remaining jumpers using this offer.
How much profit does Ryan make?
£
​

20.33%

Step-by-step explanation:

We have that the mean (m) is equal to 87.5, the standard deviation (sd) 6.25 and the sample size (n) = 12

They ask us for P (x <86)

For this, the first thing is to calculate z, which is given by the following equation:

z = (x - m) / (sd / (n ^ 1/2))

We have all these values, replacing we have:

z = (86 - 87.5) / (6.25 / (12 ^ 1/2))

z = -0.83

With the normal distribution table (attached), we have that at that value, the probability is:

P (z <-0.83) = 0.2033

The probability is 20.33%