Question

Weekly Amount of Sales in dollars Number of Weeks Probability Cumulative Probability
$2000 9.00
$3000 8.00
$4000 6.00
$5000 8.00
$6000 9.00






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Based on the above table, you want to create a vlookup table. What would be the range of values that would return a value of sales of $4000.00?
a) 0.43 to 0.58
b) 0 to 0.23
c) 0.23 to 0.43
d) 0.58 to 0.78

Answer 1

Total weeks = 9+8+6+8+9 = 40.
Probabilities: 9/40 = 0.225, 8/40 = 0.20, 6/40 = 0.15, 8/40 = 0.20, 9/40 = 0.225.
Cumulative: $2000 → 0 to 0.225; $3000 → 0.225 to 0.425; $4000 → 0.425 to 0.575; $5000 → 0.575 to 0.775; $6000 → 0.775 to 1.00.

Rounded, $4000 corresponds to 0.43 to 0.58, so (a) is correct.