Function of probability, A new book is being released and a

Function of probability

Reference no: EM13103491

1. A new book is being released and a bookstore predicts that 70% of customers that walk through the door on the release day will purchase the book. If 30 customers walk through the door, answer the following: (MUST SHOW WORK)

A) What type of distribution function (name) is the model for this situation?

B) What is the expected number of requests for the new book (based on the 30 customers)?

C) What is the variance?

D) What is the probability that at most 20 people will want the book?

E) How many copies of the book should the bookstore have on hand, if the store wants the probability of not having enough books to satisfy the demand to be less than 5%?

2. The national population distribution of scores on a high school graduation equivalency test is normal with a mean of 75 and a standard deviation of 12 (on a scale of 1 to 100).

A) If a student is randomly selected, what is the probability this his score is less than 69?

B) If a sample of 16 students are taken from this distribution what is the probability that the mean of the sample will be less than 69?

Reference no: EM13103491

Questions Cloud

Probability of winning in series : Assume in a single game sudden death playoff between team A and team B that team A would win with probability 0.6.

Express the main differences in a push and pull system : Take an automobile manufacturer. Illustrate what are the advantages--and disadvantages of using a few suppliers as opposed to have many suppliers for the various components, sub-assemblies and systems that are purchased?

Preparing a payoff table showing profits : Historically, demand has been for 50, 100, or 150 units each week, so the company makes one of those run sizes. In the past, the manager of the department has made 100 units per week for regular production. A: Prepare a payoff table showing profit..

Prepare a memo to grace in whom you outline the purposes : Prepare a memo to Grace in whom you outline the purposes of the organization and the costs and benefits of becoming a member. Close your memo with a recommendation regarding whether your company should join the organization.

Function of probability : A new book is being released and a bookstore predicts that 70% of customers that walk through the door on the release day will purchase the book.

How economic conditions in china inform william geil-culture : How did economic conditions in China at this moment inform how William Geil and Arthur Smith viewed and understood Chinese culture and society.

Find the area of each patch : (a) Determine the sound intensity at each of the three patches. (b) The sound power that passes through each of the patches is 2.00 10-3 W. Find the area of each patch.

Illustrate what are three to four line items that appear : Illustrate what are three to four line items that appear on an organization's balance sheet? Illustrate what significance do these items have for the organization?

Use the theories of international trade as well investment : Use the theories of international trade as well as investment that have been presented in this chapter to help explain Brazil's intentions

User Account

All Pages