ZuoTi.Pro
Question

Steele Electronics Inc. sells expensive brands of stereo equipment in several shopping malls. The marketing research...

Steele Electronics Inc. sells expensive brands of stereo equipment in several shopping malls. The marketing research department of Steele reports that 25% of the customers entering the store that indicate they are browsing will, in the end, make a purchase. Let the last 15 customers who enter the store be a sample.

a. How many of these customers would you expect to make a purchase? (Round the final answer to the nearest whole number.)

Number of Customers           

b. What is the probability that exactly four of these customers make a purchase? (Round the final answer to 4 decimal places.)

Probability           

c. What is the probability 7 or more make a purchase? (Round the final answer to 4 decimal places.)

Probability           

d. Does it seem likely at least one will make a purchase ("likely" refers if the probability is more than 70%)?

math   Statistics-And-Probability   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

0 0
Add a comment
Know the answer?
Add Answer to:
Steele Electronics Inc. sells expensive brands of stereo equipment in several shopping malls. The marketing research...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • (4 points) Fowle Marketing Research, Inc., bases charges to a cient on the assumption that teleph...

    (4 points) Fowle Marketing Research, Inc., bases charges to a cient on the assumption that telephone surveys can be completed within an average time of 15 mminutes or less. If more time is required, a premium rate is charged The testable hypotheses in this situation are H0 : μ = 15 vs. 14: μ > 15 1. Identify the consequences of making a Type l eror A. The company charges the customer the premium rate when they should. B. The...

  • #3 (4 points) Fowle Marketing Research, Inc., bases charges to a client on the assumption that...

    #3 (4 points) Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed within an average time of 18 minutes or less. If more time is required, a premium rate is charged. The testable hypotheses in this situation are ?0:?=18 vs. ??:?>18 1. Identify the consequences of making a Type I error. A. The company does not charge the customer the premium rate when they should. B. The company charges the customer...

  • (4 points) Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone...

    (4 points) Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed within an average time of 16 minutes or less. If more time is required, a premium rate is charged. The testable hypotheses in this situation are H M = 16 vs. H :N > 16 1. Identify the consequences of making a Type I error. A. The company charges the customer the premium rate when they should. B. The company...

  • Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can...

    Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed within an average time of 14 minutes or less. If more time is required, a premium rate is charged. The testable hypotheses in this situation are H0:μ=14H0:μ=14 vs. Ha:μ>14Ha:μ>14 1. Identify the consequences of making a Type I error. A. The company charges the customer the premium rate when they should. B. The company charges the customer the premium rate when they...

  • Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping...

    Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. Based on a certain article, the mean of the x distribution is about $21 and the estimated standard deviation is about $9. (a) Consider a random sample of n = 40 customers, each of whom has 10 minutes of unplanned shopping time in a supermarket. From the central limit theorem, what can you say about the probability distribution of x, the average amount...

  • Visit any large local retailer of your choice and imagine yourself shopping for a product that...

    Visit any large local retailer of your choice and imagine yourself shopping for a product that you think is carried by that retailer. Answer the following questions on the basis of your observations and complete a two- to three-page report. A. Location Factors What is the type of location (traditional business district, community shopping center, etc.)? How congested is this part of town in general? What influence does the neighborhood have on your impression of the store? Would you travel...

  • Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping...

    Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. Based on a certain article, the mean of the x distribution is about $39 and the estimated standard deviation is about $9 (a) Consider a random sample of n = 90 customers, each of whom has 10 minutes of unplanned shopping time in a supermarket. From the central limit theorem, what can you say about the probability distribution of x, the average amount...

  • Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping...

    Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. Based on a certain article, the mean of the x distribution is about $46 and the estimated standard deviation is about $8. (a) Consider a random sample of n = 40 customers, each of whom has 10 minutes of unplanned shopping time in a supermarket. From the central limit theorem, what can you say about the probability distribution of x-bar, the average amount...

  • Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. Based on a certain article, the mean of the x distribution is about $30 and the esti...

    Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. Based on a certain article, the mean of the x distribution is about $30 and the estimated standard deviation is about $5. (a) Consider a random sample of n = 40 customers, each of whom has 10 minutes of unplanned shopping time in a supermarket. From the central limit theorem, what can you say about the probability distribution of x, the average amount...

  • A. According to a 2009 Reader's Digest article, people throw away about 10% of what they...

    A. According to a 2009 Reader's Digest article, people throw away about 10% of what they buy at the grocery store. Assume this is the true proportion and you plan to randomly survey 192 grocery shoppers to investigate their behavior. What is the probability that the sample proportion does not exceed 0.18? Note: You should keep at least 4 decimal places for any intermediate calculations you make to match wamap's approach and calculations. Answer =  (Enter your answer as a number...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT