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To find the probability that fewer than 40 are romances.
Romance USA Today reported that 11% of all books sold are of the romance genre. If a local bookstore sells 316 books on a given day,
what is the probability that
(a) Fewer than 40 are romances?
(b) At least 25 are romances?
(c) Between 25 and 40 are romances?
(d) In the solution to these problems, what is n? p? q? Does it appear that both np and nq are larger than 5? Why is this important consideration?
By using the maximax criterion, what decision should be made by the decision maker?
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