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A small vendor has either a good day of sales with an average of $1,000 or a bad day with an average of only $500 for the day. To simulate these outcomes, random numbers from 00 to 99 should be assigned with the intervals determined from the frequency distribution. If, during the last 100 days, the vendor had 27 good days and 73 bad days, what is the correct random-number interval for a bad day?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91883149

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