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Backyard Retreats, Inc., sells an exclusive line of pools, hot tubs, and spas. It is located just off the Bee Line Expressway in Orlando, Florida. The owner reports 20 percent of the customers entering the store will make a purchase of $50. Suppose 15 customers enter the store before 10 A.M. on a particular Saturday.
A. What is the probability exactly three of these customers make a purchase of at least $50?
B. What is the probability at least one of these customers make a purchase of $50 or more?
5. A financial institution is insolvent when the book value of its assets is less than he book value of its liabilities. True or False? Explain.
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