Question: Now your boss comes in and says she likes your work so far but wants you to take it another step. It seems she had a friend that worked for Wal-Mart and her friend said Wal-Mart’s policy on regional foodstuffs like boudin is to first run price experiments for six months and then use the information from those experiments to set their prices to maximize their long term profit. Their procedure is to use a statistical technique. On a weekly basis the price is set by randomly selecting 30 possible prices (which you have to assume will come from the distribution you have defined above) and then they use the average value for the whole week. This procedure keeps their intentions secret and confuses the competition. So, you want to show your boss a picture of the possible pricing pressure your company will be facing given this new information. You need to make two histograms.

First, make a histogram of the 9000 numbers you have already generated. Use bins of $1.00, $1.10, …, $5.00 so all of your charts will have similar x axes. Label your histogram with the name of the appropriate distribution. Make sure you clearly label your histogram. What are you going to use for a label on the X-axis? Will your boss know what "bins" means? No. Do you want to make your boss have to ask? No. Take care of your boss and he or she will take care of you.