(Answered) A car manufacturer is concerned about your poor customer

Economics

A car manufacturer is concerned about your poor customer satisfaction at one of its dealerships. The management decides to evaluate the satisfaction surveys of its next 50 customers. The dealer will be fined if the number of customers who report favorably is between 20 and 26. The dealership will be dissolved if fewer than 20 report favorably. It is known that 61% of the dealers customers report favorably on satisfaction surveys.

A. What is the probability that the dealer will be fined?

B. What is the probability that the dealership will be dissolved?

View complete question

Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M92740791
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Macroeconomics

Question - suppose that a consumer can earn a higher wage

Question - Suppose that a consumer can earn a higher wage rate for working overtime. That is, for the first q hours the consumer works, he or she receives a real wage rate of w1, and for hours worked more than q he or sh ...

Question according to your textbook in the aggregate supply

Question: According to your textbook in the Aggregate Supply (AS) theory an increase in output leads to an increase in the price level. What is the assumed causality? Explain why this should be considered flawed? The res ...

Question - in a small town there is an extremely talented

Question - In a small town, there is an extremely talented baker. In a competitive market with other bakers, he faces a private marginal benefit (demand) curve of 200-Q. The marginal cost curve for producing the bread is ...

Question - suppose that the demand and supply schedules for

Question - Suppose that the demand and supply schedules for bonds that have a face value of $100 and a maturity date one year hence are as follows: Price ($) Quantity Demanded Quantity Supplied 100 0 600 95 100 500 90 20 ...

Question - practical applications the central banks can

Question - Practical Applications: The Central banks can influence a country's economy by solely varying interest rates. How? Policy Notebook: In a globalised economy, these policies need to be coordinated and cooperated ...

Question one of the big differences between the national

Question: One of the big differences between the National Football League and Power Five conference college football is that professional athletes receive payment for their services while collegiate athletics is strictly ...

Question 1 graphically illustrate the minimum wage note

Question: 1) Graphically illustrate the minimum wage. Note the deadweight (welfare loss) loss and the loss or redistribution from job search. 2) Assume that you have two periods: 2011 and 2012 for a pickup truck. Price 2 ...

Question - gatekeeper models of mcos require patients to

Question - Gatekeeper models of MCOs require patients to see a primary care doctor before going to see a specialist. What two key economic principles would be involved in a successful gatekeeper program?

Question franchise arrangements involve a number of highly

Question: Franchise arrangements involve a number of highly specific investments on the parts of both the parent company (e.g., McDonald's or Hilton Hotels) and the franchisee (the owner of a particular McDonald's or Hil ...

Question -you have a full-time job but you decide to go to

Question - You have a full-time job but you decide to go to a college and be a full-time student. What is your total economic cost to be a full-time student? Provide and discuss two items of explicit cost and two items o ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Macroeconomics Expert