A department store will place a sale item in a special display for a one-day sale. Previous experience suggests that 50 percent of all customers who pass such a special display will purchase the item. If 1,592 customers will pass the display on the day of the sale, and if a one-item-per-customer limit is placed on the sale item, how many units of the sale item should the store stock in order to have at most a 1 percent chance of running short of the item on the day of the sale? Assume here that customers make independent purchase decisions.
A department store will place a sale item in a special display for a one-day sale. Previous experience suggests that 50 percent of all customers who pass such a special display will purchase the item. If 1,592 customers will pass the display on the day of the sale, and if a one-item-per-customer limit is placed on the sale item, how many units of the sale item should the store stock in order to have at most a 1 percent chance of running short of the item on the day of the sale? Assume here that customers make independent purchase decisions.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A department store will place a sale item in a special display for a one-day sale. Previous experience suggests that 50 percent of all customers who pass such a special display will purchase the item. If 1,592 customers will pass the display on the day of the sale, and if a one-item-per-customer limit is placed on the sale item, how many units of the sale item should the store stock in order to have at most a 1 percent chance of running short of the item on the day of the sale? Assume here that customers make independent purchase decisions.
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