Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Probability using Binomial distribution.

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 stier has been grossing over $850 per day about 60% of the business day it is open. Estimate the probability that the store will 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? Make clear.

e. more than 17 out of the next 20 business days. If this actually happened, might you suspect that p is greater than 0.60? describe.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M920266

Have any Question? 


Related Questions in Statistics and Probability

In a clinical study of an allergy drug 103 of the 202

In a clinical study of an allergy drug, 103 of the 202 subjects reported experiencing significant relief from their symptoms. At the 0.05 significance level, test the claim that more than half of all those using the drug ...

Data interpretationresearch reportyour taskwrite a report

Data Interpretation Research Report Your task: Write a report on the statistical relationship that you find between the stock price of the company that you have been assigned and the following three variables: the FTSE, ...

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 ...

Answer questions a through e using the following

Answer questions (a) through (e) using the following information and output for multiple regression The production of car tires in any given year is related to the number of cars produced that year and in prior years. Su ...

A ski gondola carries skiers to the top of a mountain it

A ski gondola carries skiers to the top of a mountain. It bears a plaque stating that the maximum capacity is 14 people or 2324 lb. That capacity will be exceeded if 14 people have weights with a mean greater than 2324 l ...

The bad debt ratio for a financial institution is defined

The bad debt ratio for a financial institution is defined to be the dollar value of loans defaulted divided by the total dollar value of all loans made. A random sample of six Ontario banks is selected and the bad debt r ...

Use the given degree of confidence and sample data to

Use the given degree of confidence and sample data to construct a confidence interval for the population proportion p. Round to three decimal places. n=74, x=12; 95% confidence.

Binomial stock option modelingsuppose you have the

Binomial Stock Option Modeling Suppose you have the opportunity to buy the following contract, a stock call option, on March 1. The contract allows you to buy 100 shares of XYZ stock at the end of either March, April, or ...

What were the key events that marked the move toward

What were the key events that marked the move toward American Independence?

1 how did commerce at this stage of societal development

1. How did commerce at this stage of societal development influence the decisions/actions of governments? Some very specific results of these decisions influenced the circumstances we have today. Be sure to include addit ...

  • 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