Create a histogram of the weekly operating profits from the prior year ofoperation, using 6 equal sized bins. What is the mode on the histogram?How would you define it? Which probability distribution does the histogramresemble? (You may wish to use the Excel file SierraTrees_data.xlsprovided at the class web site.)b. What was the average weekly profit for the prior 12-month period?Determine and define the variance and standard deviation of weekly profit.c. How confident are you of this estimate? Calculate a 99% confidenceinterval for weekly profits, assuming that sigma is unknown. What does thistell you about weekly profits?d. Based on the above, what is the expected exposure on the lost profits cliam?
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