Question

One week, Park Street's revenues were $7500, which was the 15th highest revenue recorded for that restaurant. In the same week, Bridge Road's revenue was $7100, the 12th highest for that restaurant. Use percentiles and z-scores to compare how successful each restaurant was that week, relative to their typical weekly revenue.

Answer 1

Answer: The percentile rank for Park Street's revenues for the week is 60th.

The percentile rank for Bridge Road's revenues for the week is 73rd

Step-by-step explanation:

Given data:

Park street revenue = $7,500

Mean = 6611

SD = 3580

N = 36

Bridge road revenue = $7,100

Mean = 5989

SD = 1794

N = 40

Solution:

where X = observation, µ = mean, σ = standard deviation.

Zscore = (X – µ) /σ

For Parker street

Zscore = (X – µ) /σ

= 7500 – 6611 / 3580

= 0.25

Percentile rank

P(Z < 0.25 ) = 0.5987

= 60%

Percentile rank for the week is 60%

For Bridge road

Zscore = (X – µ) /σ

= 7100 – 5989/ 1794

= 0.62

Percentile rank

P(Z < 0.62) = 0.7324

= 73%

Percentile rank for the week is 73%