Trevor is Interested In purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana. After exemining accounting records for the past several years, he found that the store has been grossing over $850 per day about 65% 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) at least 3 out of 5 business days 0.65 (b) at least 6 out of 10 business days 0.591 (c) fewer than 5 out of 10 business days 0.629

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Trevor is Interested in purchasing the local hardware/sporting goads store in the small town of Dove Creek, Montana. After exemining accounting records for the past several years, he
found that the store has been grossing over $850 per day about 65% 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) at least 3 out of 5 business days
0.65
(b) at least 6 out of 10 business days
0.591
(c) fewer than 5 out of 10 business days
0.629
(d) fewer than 6 out of the next 20 business days
0.839
shake your confidence in the statement p = 0.65? Might it make you suspect that p is less than 0.65? Explain.
If the outcome described in part (d) actually occurred, might
Yes. This is unlikely to happen if the true value of p is 0.65.
O Yes. This is likely to happen if the true value of p is 0.65.
O No. This is unlikely to happen if the true value of p is 0.65.
O No. This is likely to happen if the true value of p is 0.65.
(e) more than 17 out of the next 20 business days
0.001
If the outcome described in part (e) actually occurred, might you suspect that p is greater than 0.65? Explain.
US O
O Yes. This is unlikely to happen if the true value of p is 0.65.
Transcribed Image Text:Webasskgh.het/web/Student/Assignment-Responses/submit?dep=23798372&tags=autosavelquestion3779659 11 O á * : O SPS Programs Online Locker: Virtu. A Untitled document- G kji - Google Search I Spanish Trevor is Interested in purchasing the local hardware/sporting goads store in the small town of Dove Creek, Montana. After exemining accounting records for the past several years, he found that the store has been grossing over $850 per day about 65% 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) at least 3 out of 5 business days 0.65 (b) at least 6 out of 10 business days 0.591 (c) fewer than 5 out of 10 business days 0.629 (d) fewer than 6 out of the next 20 business days 0.839 shake your confidence in the statement p = 0.65? Might it make you suspect that p is less than 0.65? Explain. If the outcome described in part (d) actually occurred, might Yes. This is unlikely to happen if the true value of p is 0.65. O Yes. This is likely to happen if the true value of p is 0.65. O No. This is unlikely to happen if the true value of p is 0.65. O No. This is likely to happen if the true value of p is 0.65. (e) more than 17 out of the next 20 business days 0.001 If the outcome described in part (e) actually occurred, might you suspect that p is greater than 0.65? Explain. US O O Yes. This is unlikely to happen if the true value of p is 0.65.
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