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

Risk taking is an important part of investing in order to

Risk taking is an important part of investing. In order to make suitable investment decisions on behalf of their customers, portfolio managers give a questionnaire to new customers to measure their desire to take financi ...

Twenty years ago 40 children were born in the same hospital

Twenty years ago 40 children were born in the same hospital in Denmark. Researchers classified the children by whether or not they were breast-fed for at least 3 months. They were interested in whether breast-feeding ten ...

The time it takes to complete a standardized exam is

The time it takes to complete a standardized exam is normally distributed with a mean of 70 minutes and a standard deviation of 10 minutes. How much time should be allowed for the exam so that 80% of the students will fi ...

Linear regression and the fitting-lineexercise 1 the

Linear Regression and the "fitting-line" Exercise 1: The following table shows how many weeks six persons have worked at an automobile inspection station and the number of cars each one inspected between 3 p.m. and 5 p.m ...

A researcher evaluates a gun training program in a large

A researcher evaluates a gun training program in a large American city found that rapes dropped by 90% in the year following the training. Researchers looking at the same data but expanding the time frame to include 5 ye ...

Starting in the 10th century movements to reform the church

Starting in the 10th century, movements to reform the church began. Why was the church in need of reform, and what were the consequences of the Gregorian Reforms? How did these reforms change society? 1 and a half page e ...

1 what value of cronbachamp39s alpha coefficient indicates

1. What value of Cronbach's alpha coefficient indicates acceptable interitem reliability? 2. Why are researchers sometimes not able to test the reliability of their measures? 3. What steps can be taken to increase th ...

Just want to have a simple answer for this question how did

Just want to have a simple answer for this question: How did the Cold War shape decolonization?

The borda and condorcet methods- the following example was

The Borda and Condorcet Methods :- The following example was presented by Condorcet, in a critique of the Borda Method. A committee composed of 81 members is to choose a winner from among three candidates, A, B, and C. T ...

1 an investigator wants to determine if a new program aimed

1. An investigator wants to determine if a new program aimed at reducing the overall number of pregnancies in a highly populated area is effective (reducing average births below 6 per household). In order to carry out th ...

  • 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

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

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