Question

A car dealership (which is opened 7 days a week) sells an average of 4 cars in a day. Assume the number of cars sold each day is independent from any other day. The number of cars sold on any given day can be approximated with a Poisson distribution. Find the probability that the car dealership will sell 6 cars tomorrow.

A) 28

B) 0.1107

C) 0.8958

D)4

E) 0.8893

F) 0.1042

Answer #1

Motors is a small car dealership. On average, it sells a car
for
$27,000,
which it purchases from the manufacturer for
$23,000.
Each month,
Garrett
Motors pays
$48,200
in rent and utilities and
$68,000
for salespeople's salaries. In addition to their salaries,
salespeople are paid a commission of
$600
for each car they sell.
Garrett
Motors also spends
$13,000
each month for local advertisements. Its tax rate is
40%.
Read the requirements
How many cars must
Garrett
Motors sell each...

A car dealership sells 0, 1, or 2 luxury cars on any day. When
selling a car, the dealer also tries to persuade the customer to
buy an extended warranty for the car. Let X denote the number of
luxury cars sold in a given day, and let Y denote the number of
extended warranties sold.
P(X = 0,Y = 0) = 1/6;
P(X = 1,Y = 0) = 1/12;
P(X = 1,Y = 1) = 1/6;
P(X = 2,Y...

A used car salesperson claims that the probability of he selling
a used car to an individual looking to purchase a used car is 60%
and this probability does not vary from individual to
individual. Suppose 5 individuals come to speak to this
salesperson one day. If his belief is correct,
The probability (to 4 decimal places) that he will sell a car
to the first individual he speaks to is _____
The probability (to 4 decimal places) that he will not...

Question Seven
A used car salesperson claims that the probability of he selling
a used car to an individual looking to purchase a used car is 60%
and this probability does not vary from individual to individual.
Suppose 5 individuals come to speak to this salesperson one day. If
his belief is correct,
The probability (to 4 decimal places) that he will sell a car
to the first individual he speaks to is _____
The probability (to 4 decimal places)...

A vendor sells merchandise through Amazon and Ebay. On Ebay she
sells an average rate of 2 items per day, while on Amzaon the daily
average is 3. Both sales follow a Poisson distribution and are
independent of each other. What is the probability that she sells 5
items on a given day?
0.189 is not correct

A car delearship sells only 5 models of cars. Over time, they
have identified the probability of a customer buying a car. They
only sell for the sticker price, no negotiating. . The probability
distribution for the purchases of customers visiting the dealership
is given below.
Model A B C D E No Sale
Price $20,000 $22,000 $25,000 $30,000 $40,000 $0
Probability 0.04 0.07 0.11 0.03 0.02 0 .73
a) (3 pts) Make a probability distribution for a worker’s
comission,...

An average of 3 life insurance policies are sold per week in an
insurance agency. In a certain week with the assumption of
conformity to the Poisson distribution,
a) the probability of selling more than 1 and less than 5
policies
b) Considering that a week consists of 5 working days, find the
possibility of selling 1 policy on a given day.

Motivation Level
Talent
High
Medium
Low
Total
High
6
18
6
Medium
21
35
6
Low
12
6
2
Total
Q1. Are high motivation and high talent independent? Justify
your answer.
Adrian sells cars for Honest Joe’s car dealership. Adrian has
never sold more than three cars in a given week. Given X is the
number of cars sold by Adrian in a week, the probability
distribution of X is summarized in the following table:
X
0
1
2
3...

There is an average of 60 accidents per month (specifically 30
days) along a relatively busy area of the California Thruway.
Assuming that the daily number of accidents follows a Poisson
distribution and that the number of accidents on different days are
independent, determine the following:
A. The probability that there will be fewer than three accidents
tomorrow.
B. The probability of exactly three accidents on June 17 and two
accidents on June 19.

Now that the new models are available, a car dealership has
lowered the prices on last year’s models in order to clear its
holdover inventory. With prices slashes, a salesman estimates the
following probability distribution of X, the total number of cars
that he will sell next week:
X
P(X)
0
0.05
1
0.15
2
0.35
3
0.25
4
0.20
What are the “expected value” and “standard deviation” of
X? Be sure to show your work?
If I were to...

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