ABC Store's data of the past 500 days shows that the online daily sales of a cooking pot of a special brand was between ten and eighteen pots. If of the 500 days, there were 100 days with daily sale of 15 pots, then what is the probability that the daily sale is 15 pots? (Put your result in a decimal number. Keep 3 digits after the decimal points.)

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question
QUESTION 11
ABC Store's data of the past 500 days shows
that the online daily sales of a cooking pot of
a special brand was between ten and eighteen
pots. If of the 500 days, there were 100 days
with daily sale of 15 pots, then what is the
probability that the daily sale is 15 pots? (Put
your result in a decimal number. Keep 3
digits after the decimal points.)
Transcribed Image Text:QUESTION 11 ABC Store's data of the past 500 days shows that the online daily sales of a cooking pot of a special brand was between ten and eighteen pots. If of the 500 days, there were 100 days with daily sale of 15 pots, then what is the probability that the daily sale is 15 pots? (Put your result in a decimal number. Keep 3 digits after the decimal points.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education