A travelling salesman sells milkshake mixing machines and on average sells 6.3 machines per month. He needs to sell at least 3 machines each month order to stay in business, otherwise he will shut down. What is the probability he will have to shut down after this month?
Round to 4 decimal places.
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A travelling salesman sells milkshake mixing machines and on average sells 6.3 machines per month. He...
A travelling salesman sells milkshake mixing machines and on average sells 7.1 machines per month. He needs to sell at least 3 machines each month order to stay in business, otherwise he will shut down. Using the Poisson distribution, what is the probability he will have to shut down after this month?
A travelling salesman sells milkshake mixing machines and on average sells 8.9 machines per month. He needs to sell at least 3 machines each month order to stay in business, otherwise he will shut down. Using the Poisson distribution, what is the probability he will have to shut down after this month?
1. About 2.9 babies are born each day at a local hospital. Assuming the Poisson distribution, what is the probability that no babies are born today? Make sure your answer is between 0 and 1. 2. A travelling salesman sells milkshake mixing machines and on average sells 7.1 machines per month. He needs to sell at least 3 machines each month order to stay in business, otherwise he will shut down. What is the probability he will have to shut...
The sales of a salesman average $500 with a standard deviation of $15.2. He gets a $100 commission only if the sale exceeds $520. What is the probability the next sale will exceed $520? (please round your answer to 4 decimal places)
Wilderton Inc. sells 1,000 riveting machines per year. The cost of placing one order is $120, and it costs $40 per year to carry a riveting machine in inventory. What is the annual total cost of ordering and carrying riveting machines assuming that Wilderton orders at the optimal EOQ level, rounded up to the next whole number? (e.g. if the EOQ is 43.4 round it to 44 when computing total cost) (Enter your answer as a decimal accurate to two...
A high school baseball player has a 0.278 batting average. In one game, he gets 7 at bats. What is the probability he will get at least 2 hits in the game? (Round answer to 3 decimal places) A certain kind of sheet metal has, on average, 8 defects per 15 square feet. Assuming a Poisson distribution, find the probability that a 19 square foot metal sheet has at least 9 defects. Round your answer to three decimal places.
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On average, 2 5 traffic accidents per month occur at a certain in p per month occur at a certain intersection. Complete perts (a) through (c) below Table of Poisso probability sums Click here to view the table of Poisson probabiity sums (a) What is the probability that exacty 5 accidents will occur in any given month at this intersection? The probebilty that exacty 5 accidents wal occur in any given monch at this intersection is Poisson Probability Suns r...
You own a wholesale plumbing supply store. The store currently generates revenues of $1.01 million per year. Next year, revenues will either decrease by 9.9% or increase by 4.8%, with equal probability, and then stay at that level as long as you operate the store. You own the store outright. Other costs run $870,000 per year. There are no costs to shutting down; in that case you can always sell the store for $450,000. What is the business worth today...