Question

Trevor is interested in purchasing the local hardware/sporting Goods store in the wall town of Devek, Montana Altereg accounting records of the past several years, the found that the store has been grossing over $850 per day about 40% of the business days is open imate the following probies that the store will gross over 50 (a) At least out of 5 business days. (Use 3 decimal places) (1) At least 6 out of 10 business days. (use 3 decimal places) (c) Fewer than 5 out of 10 business days. (Use 3 decimal places) (d) Fewer than 6 out of the next 20 business days. (Use 3 decimal places) If this actually happened, might it shake your confidence in the statement p0.407 Might take you suspect that is less than 0.407 Explain O No. A probability this small might indicate that the true value of pis greater than 0.40 Yes. A probability this small might indicate that the true value of pis greater than 0.40 Yes. A probability this small might indicate that the true value of p is less than 0.40 O No. A probability this small might indicate that the true value of p is less than 0.40 (e) More than 17 out of the next 20 business days. (Use 3 decimal places.) If this actually happened, might you suspect that p is greater than 0.407 Explain. No. This is unlikely to happen if the true value of Dis 0.40 No. This is likely to happen if the true value of pis 0.40 Yes. This is unlikely to happen if the true value of pls 0.40 Yes. This is likely to happen if the true value of pls 0.40. Type here to

Answer 1

Solution Given data, P=0.40 I-p=0.60 By Binomid probability of x is the business days ! P(X=x) = G, P". (1-P) 1h & nere La Lh-a n=s ,x=3 5.5 PC X23) - P(x= 3) + PCX=4) + P(X= 5) Cg. (0.4)?, (0.6)8-3-5 +56, (0.4% (0.6) 3-4 + 5 Co. (0.4), (0.6) 5 = 0.23 04 + 0.0768 +0.01024 so 0.31744 P(X23) = 0.317 + + n=10, x=6 P(*>6) = P(x = 6) + P(X= 7) + P(x=8) + P(x =99+ P(X=10) = 1066. (0.46 (0.6) 10-6, 106, 10.4), (0.6307 (0.6)lº.9 + 10613: (0:4). (0.6) 10-10 1969.(0.4) 2.60.6.4°- 8 9 1°Cg' (0.4) = 0,111479 + 0.0424 67+0.01061770,00 1573 40,000105 0,166239 no.166 P(x >:) co | 0 o poco n=10, x=5 P(x <S) - P(X54) PIX=4)+ P(x + 3) + P(x + 2) + P(x-1) + P(x=0) lecy (0.4)". (o.Glory to C: 10:4) 3, (0.610-3 106, 10.4)?, (0.6²-2 1014)':(0.6]lor! 106. (014) 0/0.6) + loci 0250827 +0,24991 + 0.120932 + 0.040311 +01006047 11 0.633108 56,633 P(X<5) = 0.633

= P(X=5) + P(X= 4) + P(x=3) + PCX=2) + P(x-1)+P(x=0) . (014) 4 (0.6)20r4442002.(0:4)3.60.67103 20-19, 20/20 (0:4).(0.6) n =20, x=6 PC x <G) = P(x35) 120-5 20 + 20 20 + 200g(0.493.60.6)20-2 4 200,04)).(0:67204 + 2000.(0-4)! (oc) = 0.024647 + 0.034991 +0.01235 +0.003087 + 0.000487 + 0, 000037 0:12 SS90 P/X26) = 0.126 * If this actually happened, might it shake your confidence in the statement P=0.40 ? Might it make you suspect that p is less than 0.40 } © Yes, a probability this small might indicate that the value of p is less than 0.40 n =20, x=17 20-20 P(X>17) 20 P(X218) = P(x = 18) + P(x=19) + P(x=20) 20 Yg = 6.000oos toto =0.ooooos ño P(X>17)=0 * if this actually happened, might you suspect that p is greater than 0.40 } I ® Yes, this is unlikely to happens if the true value pis 6.gg "PLEASG Rate THE ANSWER-THANKS"