Expensive brands of stereo equipment in shopping mall

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Reference no: EM132236036

Steele Electronics Inc. sells expensive brands of stereo equipment in several shopping malls. The marketing research department of Steele reports that 33% of the customers entering the store that indicate they are browsing will, in the end, make a purchase. Let the last 23 customers who enter the store be a sample.

a. How many of these customers would you expect to make a purchase? (Round the final answer to the nearest whole number.)

Number of customer.........

b. What is the probability that exactly five of these customers make a purchase? (Round the final answer to 4 decimal places.)

c. What is the probability 13 or more make a purchase? (Round the final answer to 4 decimal places.)

d. Does it seem likely at least one will make a purchase ("likely" refers if the probability is more than 70%)? Yes or No

Reference no: EM132236036

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