Final answer:
The variable X follows a normal distribution with a mean of 7.2200 and a standard deviation of 1.7500, representing the average amount of money spent at Don Mcalds.
Step-by-step explanation:
The variable X represents the average amount spent at Don Mcalds, and its distribution is denoted as X∼N (7.2200,1.7500).
The mean (μ) of this normal distribution is 7.2200, 7.2200, indicating the typical or average spending amount.
The standard deviation (σ) is 1.7500, 1.7500, representing the extent of variability in spending at Don Mcalds.
A normal distribution is assumed, implying that spending amounts cluster around the mean, with deviations conforming to a bell-shaped curve.
This information enables statistical analyses, such as calculating probabilities of spending within certain ranges.
The notation X ∼ (7.2200, 1.7500) X∼N (7.2200,1.7500) is a concise representation of the distribution's key parameters.
Understanding the mean and standard deviation helps assess the spread and concentration of spending data.
Statistical inferences can be drawn, aiding predictions and decision-making related to Don Mcalds' customer spending patterns.
The normal distribution assumption simplifies modeling and analysis of the average spending behavior.
This statistical framework is valuable for businesses, allowing them to better understand and manage customer spending trends at their establishments.