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(Solved): Retail businesses often face problems with shoplifting, such as stealing food, snacks, small items, ...



Retail businesses often face problems with shoplifting, such as stealing food, snacks, small items, etc., causing retail businesses to install CCTV cameras or hire more security guards to reduce the risk of shoplifting. These incidents increase costs and ultimately reduce the profits of the business. The value of shoplifting is uncertain and depends on many small factors that are relatively independent of each other. Therefore, it is assumed that The distribution of shoplifting value per day is a normal distribution. A retail business found that over the past several years, the mean value of shoplifting was approximately 200 baht per day, with a standard deviation (s.d.) of 30 baht per day.From the first question, consider the following statements as true (T)) or false (F)).1) The value of shoplifting per day is an interval scale data.2) On a daily basis, the value of shoplifting that occurs most frequently is 200 baht per day.3) The chance that a retail business will encounter a value of shoplifting between 170-230 baht per day is 68.3%.4) The chance that a retail business will encounter a value of shoplifting less than 140 baht per day is equal to the chance that a value of shoplifting is more than 260 baht per day.5) The chance that a retail business will encounter a value of shoplifting less than 110 baht per day is less than the chance that a value of Shoplifting over 290 baht per day6) The chance that a retail business will encounter a shoplifting value between 170-290 baht per day is 84.0%7) The chance that a retail business will encounter a shoplifting value between 170-290 baht per day is greater than the chance that a retail business will encounter a shoplifting value between 110-230 baht per day8) If the median of shoplifting value is 205 baht per day, the chance that the shoplifting value is more than 200 baht per day is less than the chance that the shoplifting value is less than 200 baht per day9) If the median of shoplifting value is 205 baht per day, the chance that the shoplifting value is more than 205 baht per day is less Chances of shoplifting being less than $205 per day10) Over the next several years, the business has seen an average of $500 per day with a standard deviation of $50 per day. This indicates that the distribution of shoplifting around the average has decreasedcompared to previous years.11) Given a month with 30 days, there is a 68.3% chance that the retailer will experience shoplifting between $5,100 and $6,900 per month.12) Given a year with 360 days, there is a 99.7% chance that the retailer will experience shoplifting between $50,400 and $93,600 per year.



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