The owner of a small deli is trying to decide whether to discontinue selling magazines. He...
The owner of a small deli is trying to decide whether to
discontinue selling magazines. He suspects that only 8.1% of his
customers buy a magazine and he thinks that he might be able to use
the display space to sell something more profitable. Before making
a final decision, he decides that for one day he will keep track of
the number of customers that buy a magazine.
(a) Explain why this is a binomial experiment.
(b) Assuming his suspicion that 8.1% of his customers buy a
magazine is correct, what is the probability that exactly 2 out of
the first 10 customers buy a magazine? Give your answer as a
decimal number rounded to two digits.
(c) What is the expected number of customers from this sample that
will buy a magazine?
Homework Answers
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The owner of a small deli is trying to decide whether to
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Show Intro/Instruction To earn full credit for this question, use your own sheet of paper to...
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Show Intro/Instruction To earn full credit for this question, use your own sheet of paper to solve the problem, showing all steps of your work in order to get full credit. The owner of a small deli is trying to decide whether to discontinue selling magazines. He suspects that only 9% of his customers buy a magazine and he thinks that he might be able to use the display space to sell something more profitable. Before making a final decision,...
6. Mike is the boss at a mechanic shop. He is trying to decide whether to buy machine A or machine B. Both machines are used to fix engines. Mike has two mechanics in his shop that do all of the engine fixing. He plans to do an experiment to determine which machine to buy. To do this, he gives mechanic #1 machine A and mechanic #2 machine B and he sees how much time it takes them to fix...
Your friend Harold is trying to decide whether to buy or lease his next vehicle. He has gathered information about each option but is not sure how to compare the alternatives. Purchasing a new vehicle will cost $31,000, and Harold expects to spend about $950 per year in maintenance costs. He would keep the vehicle for five years and estimates that the salvage value will be $12,300. Alternatively, Harold could lease the same vehicle for five years at a cost...
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The owner or a fashion retailer has been tracking how many customers use coupons in his store after he mailed out sale fliers. The rliers orter customers a variety or choices, includin 20% 0" the entire order, buy one and get one r ee, and 50% off a single item customers may use only ona of thฝ่ coupons, but the owner knaws that some customars will maka saparata purchases in arder to use mara than āne coupon ar lcaep ona...
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