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Question 4 According to an annual survey by Paytronix, around 22% of gift cards are still unused after a full year from purchase. Sounds like free money for businesses, right? It's all in the accounting when gift cards are sold, they are counted as a liability until spent. A local restaurant chain sold 300 twenty-five dollar gift cards. Based on the data they expect that 78% of the cards will be used within a year of the purchase. Use the normal approximation along with the continuity correction factor to find the probability that at most 228 gift cards of 300 sold will be used within a year of purchase. • Let X be the number of gift cards out of 300 sold that will be used within a year from the purchase. Describe the distribution of X and its parameters: X Select an answer (n= Select an answer F T B N X² • Use the random variable notation to symbolically express the probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: Select an answer Select an answer N P(X>228) P(X≤228) P(X2228) P(X<228) • Let Y be a normal variable that will be used to approximate the probability in question. Find the parameters of Y (round the answers to 2 decimal places): Y Select an answer (μ= Select an answer B • Use the correction for continuity: • Use the random variable notation to symbolically express the approximate probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: Select an answer ✓ Select an answer p P(Y>228) P(Y<228) Select an answer Select an answer P(Y>227.5) P(Y<228.5) P(Y<227.5) P(Y>228.5) Find the probability (round the answer to 4 decimal places): σ=

Question 4 According to an annual survey by Paytronix, around 22% of gift cards are still unused after a full year from purchase. Sounds like free money for businesses, right? It's all in the accounting when gift cards are sold, they are counted as a liability until spent. A local restaurant chain sold 300 twenty-five dollar gift cards. Based on the data they expect that 78% of the cards will be used within a year of the purchase. Use the normal approximation along with the continuity correction factor to find the probability that at most 228 gift cards of 300 sold will be used within a year of purchase. • Let X be the number of gift cards out of 300 sold that will be used within a year from the purchase. Describe the distribution of X and its parameters: X Select an answer (n= Select an answer F T B N X² • Use the random variable notation to symbolically express the probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: Select an answer Select an answer N P(X>228) P(X≤228) P(X2228) P(X<228) • Let Y be a normal variable that will be used to approximate the probability in question. Find the parameters of Y (round the answers to 2 decimal places): Y Select an answer (μ= Select an answer B • Use the correction for continuity: • Use the random variable notation to symbolically express the approximate probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: Select an answer ✓ Select an answer p P(Y>228) P(Y<228) Select an answer Select an answer P(Y>227.5) P(Y<228.5) P(Y<227.5) P(Y>228.5) Find the probability (round the answer to 4 decimal places): σ=

MATLAB: An Introduction with Applications
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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Question 4 According to an annual survey by Paytronix, around 22% of gift cards are still unused after a full year from purchase. Sounds like free money for businesses, right? It's all in the accounting - when gift cards are sold, they are counted as a liability until spent. A local restaurant chain sold 300 twenty-five dollar gift cards. Based on the data they expect that 78% of the cards will be used within a year of the purchase. Use the normal approximation along with the continuity correction factor to find the probability that at most 228 gift cards of 300 sold will be used within a year of purchase. • Let X be the number of gift cards out of 300 sold that will be used within a year from the purchase. Describe the distribution of X and its parameters: X Select an answer (n=| Select an answer F T B N X² • Use the random variable notation to symbolically express the probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: • Let Y be a normal variable that will be used to approximate the probability in question. Find the parameters of Y (round the answers to 2 decimal places): Y~ Select an answer (= Select an answer x² Select an answer ✓ Select an answer P(X>228) P(X<228) P(X≥228) P(X<228) T N • Use the correction for continuity: P = Р • Use the random variable notation to symbolically express the approximate probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: Select an answer Select an answer P(Y>228) P(Y<228) Select an answer ✓ Select an answer P(Y>227.5) P(Y<228.5) P(Y<227.5) P(Y>228.5) • Find the probability (round the answer to 4 decimal places): σ=
Transcribed Image Text:Question 4 According to an annual survey by Paytronix, around 22% of gift cards are still unused after a full year from purchase. Sounds like free money for businesses, right? It's all in the accounting - when gift cards are sold, they are counted as a liability until spent. A local restaurant chain sold 300 twenty-five dollar gift cards. Based on the data they expect that 78% of the cards will be used within a year of the purchase. Use the normal approximation along with the continuity correction factor to find the probability that at most 228 gift cards of 300 sold will be used within a year of purchase. • Let X be the number of gift cards out of 300 sold that will be used within a year from the purchase. Describe the distribution of X and its parameters: X Select an answer (n=| Select an answer F T B N X² • Use the random variable notation to symbolically express the probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: • Let Y be a normal variable that will be used to approximate the probability in question. Find the parameters of Y (round the answers to 2 decimal places): Y~ Select an answer (= Select an answer x² Select an answer ✓ Select an answer P(X>228) P(X<228) P(X≥228) P(X<228) T N • Use the correction for continuity: P = Р • Use the random variable notation to symbolically express the approximate probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: Select an answer Select an answer P(Y>228) P(Y<228) Select an answer ✓ Select an answer P(Y>227.5) P(Y<228.5) P(Y<227.5) P(Y>228.5) • Find the probability (round the answer to 4 decimal places): σ=
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