Estimate the probability that the store will gross over $850 at least 6 out of 10 business days. at most 3 of the 10 business days. fewer than 7 out of 20 business days.
Estimate the probability that the store will gross over $850 at least 6 out of 10 business days. at most 3 of the 10 business days. fewer than 7 out of 20 business days.
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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Trevor is interested in purchasing the local hardware/electronic goods store in a small town in South Ohio. 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 will gross over $850
at least 6 out of 10 business days.
at most 3 of the 10 business days.
fewer than 7 out of 20 business days.
more than 16 out of 20 business days.
What is the expected (mean) number of business days for which the store would gross over $850 in a month (30 days)?
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