SOLUTION: Therese Felser manages a grocery warehouse which encourages volume shopping on the part of its customers. Therese has discovered that, on any given weekday 70 percent of the custom
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Question 1001615: Therese Felser manages a grocery warehouse which encourages volume shopping on the part of its customers. Therese has discovered that, on any given weekday 70 percent of the customer sales amount to more than $ 100. That is any given sale on such a day has a probability of 0.70 of being for more than $ 100.( Actually the conditional probabilities throughout the day would change slightly, depending on earlier sales, but this effect would be negligible for the first several sales of the day, so we can treat them as independent.) (Give answers to at least three decimal places.)
37) The first two sales on Wednesday are both for more than $100.
38) The first three sales on Wednesday are all for more than $100.
39) None of the first three sales on Wednesday is for more than $100.
40) Exactly one of the first three sales on Wednesday is for more than $100.
I think question 40 uses a binomial formula ...and I was told that it does but I'm not sure.Solutions would be great!Thanks. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! 37. It is 0.7*0.7=0.49. you multiply the probabilities.
38. It is 0.49*0.7=0.343.
39. It is 0.3^3=0.027
40. It is 3C1 (0.7)^1 (0.3)^2=0.189
