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Big Box Store (BBS) has an annual rate of 4% of all sales being returned. In...

Big Box Store (BBS) has an annual rate of 4% of all sales being returned. In a recent sample of thirty randomly selected sales the number of returns was five. BBS is concerned about the event, and your advice is solicited.

(1) (5 points) How many returns are expected in a random sample of 30 sales? What is the standard deviation for this sample? How would you explain the number of expected

returns to BBS and not use a decimal? Show any work and type your answer below.

(3) (5 points) How many ways can there be 5 returns in a sample of 30 sales?

Big Box Store (BBS) has an annual rate of 4% of all sales being returned. In a recent sample of thirty randomly selected sales the number of returns was five. BBS is concerned about the event, and your advice is solicited.

Math   Statistics-And-Probability   
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