Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Find the probability under Binomial distribution.

Hardware Store: Income Trevor is interested in purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana. After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 60% of the business days it is open. Estimate the probability that the store would gross over $850.

a. At least 3 out of 5 business days.

b. At least 6 out of 10 business days.

c. Fewer than 5 out of 10 business days.

d. Fewer than 6 out of the next 20 business days. If this actually happened, might it shake your confidence in the statement p = 0.60? Might it make you suspect that p is less than 0.60? describe.

e. More than 17 out of the next 20 business days. If this essentially happened, may you suspect that p is greater than 0.60? Give details.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M923138

Have any Question? 


Related Questions in Statistics and Probability

Suppose there are three bills in a wallet one of the bills

Suppose there are three bills in a wallet. One of the bills is a $1 bill, one is a $5 bill, and the third is a $10 bill. You select two bills at random without replacement from the wallet, and note the value of the bills ...

Grear tire company has produced a new tire with an

Grear Tire Company has produced a new tire with an estimated mean lifetime mileage of 36,500 miles. Management also believes that the standard deviation is 5000 miles and that tire mileage is normally distributed. To pro ...

Purpose of the studythis current research study is a

Purpose of the Study This current research study is a quantitative study. The aim of this research study is to investigate the levels of self-efficacy and to determine whether there is a relationship in quality of life a ...

Q1 a total 225 people were asked to report their hourly

Q1. A total 225 people were asked to report their hourly wages. The mean of the sample was 28 and it is known that the population standard deviation is 12 a) Find the 95% confidence interval for the mean. b) Find the 90% ...

Packages of sugar bags for sweeter sugar inc have an

Packages of sugar bags for Sweeter Sugar Inc. have an average weight of 10 ounces and a standard deviation of 0.2 ounces. The weights of the sugar bags are normally distributed. What is the probability that 16 randomly s ...

If x and y are statistically independent random variables

If X and Y are statistically independent random variables both with probability density function f(t)=e^(-t) I[0, +infinity](t) , where I is the indicator function of t. Find the probability density of the variable Z=Squ ...

A recent report suggested that older people think more

A recent report suggested that older people think more slowly than younger people because they have more information stored in their brains. Because WeStudyEverything wasn't sure regarding the source of the study, they d ...

According to harpers index 55 of all federal inmates are

According to Harper's Index, 55% of all federal inmates are serving time for drug dealing. A random sample of 15 federal inmates is selected. (a) What is the probability that 9 or more are serving time for drug dealing? ...

Identify a business related management problem translate

Identify a business related management problem translate the management problem into a hypothesis assumption accurately state the null hypothesis and alternative hypothesis.

The mean sat score in mathematics is 515 the founders of a

The mean SAT score in mathematics is 515 . The founders of a nationwide SAT preparation course claim that graduates of the course score higher, on average, than the national mean. Suppose that the founders of the course ...

  • 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

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen