Trevor is interested in purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana. After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 55% of the business days it is open. Estimate the probability that the store will gross over $850 for the following. (Round your answers to three decimal places.)   a) fewer than 6 out of the next 20 business days   b) more than 17 out of the next 20 business days

Q: Alex is planning to buy a franchise from Home Deco to sell decorations for the home. The table below…

A:

Q: You are interested in the effect of a factory being inspected on its pollution output, measured here…

A: When the number of reported violations goes from 9 to 10, the probability of being inspected jumps…

Q: There is a 35% chance that it will be sunny tomorrow. What are the chances that it will not be…

A: Given Data: The percentage chances that it will be sunny tomorrow is: P=35% The percentage of…

Q: Question 5 You have R110 million cash on hand. You are deciding whether to build a restaurant for…

A: Decision tree is a tree like structure which acts like a flowchart. It helps to solve classification…

Q: The probability that the return will be below X% is approx. 0.16. What is the value of X for Stock…

A: We are given:p = 0.16 (probability of return being below X%)For Stock A and Stock B:X = (1 - p) *…

Q: The probability of a price increase is 0.24 (24%) whereas the probability of a price decrease is…

A:

Q: A   36   year old man in the United States has a   0.215%     risk of dying during the next year. An…

A:

Q: Conn Man's Shops, a national clothing chain, had sales of $450 million last year. The business has a…

A: Given a data of shales of Conn man's Shops, had a sale $450 million last year. The business has…

Q: (a) the average time in the line. (b) the average number in the line. (c) the average time in the…

A: Here Given  Arrival Rate=λ= 10 Customer per hour Service rate = μ =604= 15 Customer per hour…

Q: An insurance company sells a $9,000, nine-year term life insurance policy to an individual for $460.…

A: The objective of this question is to calculate the expected return for the insurance company from…

Q: Hospital records show that 425 of the 850 patients who contracted a strain of influenza recovered…

A:

Q: ise money by raffling a trip worth $500. It nnings for a person who buys 1 ticket.

A: NOTE-AS PER POLICY I HAVE CALCULATED FIRST MAIN QUESTION ONLY     Here Charitable trust sold 3000…

Q: Suppose that 40% of adult Canadians believe that Canada should apply to host the next soccer World…

A: It is given that 40% Canadians believe that Canada should apply to host the next soccer World cup. A…

Q: The Harriet Hotel in downtown Boston has 100 rooms that rent for $150 per night. It costs the hotel…

A: Given information:Available number of rooms in hotel = 100Rent of room per night = $150Variable…

Q: The test for a certain disease is 86% accurate.  A hospital tests a sample of 5000 patients for this…

A: Accuracy of the test is 86% Inaccuracy of the test = 14% N = Total number of patients = 5000…

Q: Use the appropriate table to solve this problem: At an online computer store 60% of computers sold…

A: Given that at an online computer store 60% of computers sold are laptops.

Q: An insurance company sells a $19,000, eight-year term life insurance policy to an individual for…

A: The amount company has to pay if the individual dies = $19,000The probability the individual will…

Q: Calculate the occupancy rate of the Best Hotel and Suites that has 200 rooms, but on average sells…

A:

Q: Maggie is practicing her penalty kicks for her upcoming soccer game. During the practice, she…

A: Sample size, n = 10Probability , p = 65% = 0.65

Q: Patients arrive at the emergency room of a local hospital at an average rate of 6.6 per hour.…

A:

Q: An insurance company sells a $2,000, eight-year term life insurance policy to an individual for…

A: Given that the individual will live for the next eight years is 0.99. So, the probability that the…

Q: A raffle has a grand prize of a Caribbean cruise valued at $9000 with a second prize of a weekend in…

A: The value of the grand prize (which includes a Caribbean cruise) is $9000.The value of the second…

Q: Express all answers as decimals rounded to 3 decimal places, if needed. Express percentages decimals…

A:

Q: Solve the following problem. A quiz has 10 multiple choice questions with four choices with one…

A: Solution: Let X be the random variable that the number of correct answer. The probability of correct…

Q: The publishing company's estimate of profits and losses and the respective probabilities on the…

A:

Q: For each probability and percentile problem, draw the picture. The time (in years) after reaching…

A: Solution

Q: Maggie is practicing her penalty kicks for her upcoming soccer game. During the practice, she…

A:

Q: Most doctors agree that 75% of those who suffer lung cancer are chain smokers. Based on this data,…

A:

Q: Solve. If necessary, round to the nearest tenth of a percent. The graph below shows the total…

A: We see from the given graph that total earnings in 2009 was 27.5 million dollars and in 2010 it…

Q: Year Sales (X) in millions Profit (Y) in millions XY X^2 Y^2 2003 10 0.5 5 100 0.25 2004 12 0.75 144…

A: Here, first we need to calculate the correlation between  X and Y. The formula to be used is as…

Q: 1. ABC inc. stock is currently selling for $30, one year from today the stock price can either…

A: The objective is to calculate the value of a European put option using the Binomial Option Pricing…

Q: On the average, a certain computer part lasts ten years. The length of time the computer part lasts…

A:

Matrices

‘Matrices’ is the plural form of the word matrix, and it is basically a spreadsheet in the form of a box. In mathematics, various functions can be carried out with matrices. Generally, a matrix comes in the shape of a square or rectangle. The elements are distributed horizontally in the form of rows, and vertically in the form of columns.