Three cars to three different customers

Assignment Help Business Economics
Reference no: EM132129496

50% of the cars in a dealer lot are red, 20% are black, and 16% are white. The remainder are some other unspecified color.

Salespersons randomly shows three cars to three different customers.

What is the probability the first car shown was red, the second was black, and the third was red again?

To be clear, the first red car and the second red car may be the same car. This is called sampling with replacement.

Use 4 decimal digits.

Reference no: EM132129496

Questions Cloud

What is the probability that the mean gain for the sample : What is the probability that the mean gain for the sample was between 200 and 550?
What is the ethical issue in scenario : Assessment Task - Analysis of an ethical scenario. Please read the case study and answer all questions. What is the ethical issue in this scenario
What is the probability of person being male : a. Given that a randomly selected fan has attended multiple games, what is the probability of this person being male?
Company may be confronting in reference to employment law : Your director wants you to include any ethical issue that your company may be confronting in reference to this employment law.
Three cars to three different customers : 50% of the cars in a dealer lot are red, 20% are black, and 16% are white. The remainder are some other unspecified color
Major hurricanes in a single? year : What is the probability that the state will be hit by at least three major hurricanes in a single? year, as happened several years? ago?
Discuss current issues that managers face when managing team : Discuss current issues that managers face when managing teams. The key lies in identifying the most central constraint within the system.
Elena optimal consumption bundle : A concert ticket costs $30 and a film ticket costs $10. How many tickets of each type will be in Elena's optimal consumptionbundle? Her MRSCF = 3F/2C.
How to implement the requirements for a particular operation : Operations management involves various activities, such as process design, selection, management of information technology, work systems, planning.

Reviews

Write a Review

Business Economics Questions & Answers

  Calculate the probability distribution for next

There is no recognizable pattern. Calculate the probability distribution for next year's discount rate.

  Determine the yield of the bond

A 9.25% coupon bond issued by Gurley Gears LLC is purchased January 1, 2010 and matures December 31, 2018. The purchase price is $1079 and interest (the coupon) is paid semi-annually. If the face value of the bond is $1,000, determine the yield of th..

  Information systems manager to be knowledgeable

Give one reason why it is important for an information systems manager to be knowledgeable about telecommunications. Do not simply state something broad along the lines of "because telecommunication infrastructure is needed to meet business needs ..

  Perfectly competitive firm in three stages of profit

Draw three graphs that shows a perfectly competitive firm in three stages of profit, loss, and break even. Explain the reason for each position the firm might have? Profit , Loss, Break-Even.

  Various theorists utilitarian-libertarian-rawls

In September 2012, the New York City Board of Health approved Mayor Michael Bloomberg's proposal to ban the sale of large sugary drinks in restaurants and other venues in an attempt to reduce obesity and promote more healthful living. How do you thin..

  Qwhat is the relationship between states that have stricter

q.what is the relationship between states that have stricter gun control laws and the crime rate?you will need to

  What is the real interest rate that herb expected to pay

There is persistent fear that there will be a high level of deflation. Many economists warn that it may be worse for the economy than if there is high inflation. Let\'s work through one example. What is the real interest rate that Herb expected to pa..

  Find the new optimal consumption bundle

Now assume that the price of good x increases to 6. Find the new optimal consumption bundle and show it in a graph.

  The marginal benefit of the first bottle

It is a hot day at the beach. Ice water costs $2 per bottle and this is your only option. Your marginal benefit for water follows the equation MB = $10 - $x. x is represents the number of bottles of ice water you have had. So, for example, the margin..

  What economic forces result in the dissipation of economic

How can makers of flat-panel TVs earn economic profits during the first few months after the introduction of new models? What economic forces result in the dissipation of economic profits earned by manufacturers of flat-panel TVs?

  Irresponsible in public with a social media account

Why would I as an employer want to hire someone who is irresponsible in public with a social media account?

  Small ice cream stand on campus called ice-campusades

Imagine that you have decided to open a small ice cream stand on campus called "Ice-Campusades." You are very excited because you love ice cream (delicious!) and this is a fun way for you to apply your business and economics skills! Use your knowledg..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd