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?
A travelling salesman sells milkshake mixing machines and on average sells 8.9 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 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.
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...
4. A life insurance saleswoman sells on average 3 life insurance policies per week. Assume that the number of life insurance policies per week follows a Poisson distribution. Find the probability that in a given week, the saleswoman will sell (a) (4 points) At least 1 policy. (b) (4 points) 2 or more, but fewer than 5 policies
An insurance salesperson sells an average of 3 life insurance policies per week. Suppose insurance policies sales occur according to a Poisson distribution. a) What is the probability they will sell 3 or more policies in four weeks? b) What is the expected value of policies sold in four weeks? c) What is the variance in the expected number of policies sold?
Q3. Press shop A press line of a car manufacturing company consists of different equipment: A feeder that provides the metal to press shop, a press machine that shapes the metal using a hydraulic press, a punch press that is used to form holes, and a robot that removes the final product from the press line. Suppose the removal robot and the feeder are reliable and one-year overhaul maintenance is planned for them. However, the press machine and punch press...
Inventory management. A computer store sells and maintains an inventory of fax machines (units). On average, one unit is sold per day, but the store experiences a burst of customers on some days. A marketing survey suggests that customer interarrival times are iid exponentially distributed with rate 1 per day. When the inventory on hand drops down to 5 units, an order of 20 units is placed with the supplier, and the lead time is uniformly distributed between 5 and...
method of accounting but he doesn't keep any significant inventories of the specialized assets that he sells. Joe reported the following financial information for his business activities during year 0 Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual Determine the effect of each of the following transactions on the taxable business income. (Select "No Effect" from the dropd If no change in the taxable business income.) own a. Joe...
i want help in question 14 ( yellow spot) please! (b) Given your answer to (a), what are the mean and standard deviation of the number op chassis used by the amplifier stage during the 15 minutes it takes the chassis stage to The Lessons of History Part I build a chassis? (c) If Enginola wants to be sure that the probability of an amplifier chassis in stock when he/she needs one is at least 99 percent, how large sho...
Janet has a business designing handmade bookmarkers. Her unit of sale is one bookmarker: She sells 40 bookmarkers per week to a bookstore in her neighborhood · Her selling price is $4.50 each, including an envelope. . Her costs are 80€ per card for materials (construction paper, glue, and paint) and 20¢ each for the envelopes, for a total of $1.00 each. On average, it takes her one hour to make six bookmarkers. • Janet pays herself $9 an hour....