(NOTE: All 3 Parts refer back to 1)
(NOTE: All 3 Parts refer back to 1) A published poll has indicated that 7 out...
A published poll has indicated that 1 out of 20 people will pay 15% more for Spotted Cow brand of milk that is organic as compared to Spotted Cow brand of milk that is not organic. Fifty people are surveyed and ask if they would pay 15% more for Spotted Cow organic milk as compared to Spotted Cow milk that is not organic. What is the probability that the first person surveyed will indicate he or she is willing to...