Question

A television dealer has observed that 75% of all televisions that he sells are portable. Find...

A television dealer has observed that 75% of all televisions that he sells are portable. Find the approximate probability that, of the next 50 sets sold, at least 35 will be portable.

Homework Answers

Answer #1

Let X be a random variable representing the number of portable television sets of the next 50 sets sold. Then X is a binomial random variable with n=50 and p=0.75

Here since n>30 so we use normal approximation of binomial distribution. That is if X is a binomial random variable with mean E(X) and variance Var(X) then

that is Z follows standard normal distribution.

Here

So,

the probability that at least 35 sets will be portable =

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
2. A dealer has a stock of eight similar television sets which he rents out to...
2. A dealer has a stock of eight similar television sets which he rents out to customers on a weekly basis. The weekly demand for these sets is known to have a particular distribution with mean 5.5. a. Find the probability, correct to 3 decimal places, that in a given week at least three of the sets will be rented out. b. Find the probability, correct to 3 decimal places, that in a given week at least three of the...
A dishonest used-car dealer sells a car to an unsuspecting buyer, even though the dealer knows...
A dishonest used-car dealer sells a car to an unsuspecting buyer, even though the dealer knows that the car will have a major breakdown within the next 6 months. The dealer provides a warranty of 45 days (i.e. 1.5 months) on all cars sold. Let x represent the length of time until the breakdown occurs. Assume that x is a uniform random variable with values between 0 and 6 months. a. Calculate and interpret the mean of x. b. Calculate...
iN eXCEL Jim’s Discount Warehouse sells three-year extended warrantees on its televisions and other electronics. As...
iN eXCEL Jim’s Discount Warehouse sells three-year extended warrantees on its televisions and other electronics. As of December 31, 2019, Jim’s estimates expected cash flows associated with electronics sold to date as follows for the next three years: Cash Flow Estimate X Probability Assessment = Expected Cash Flow 2020 $15,000 0.25 $3,750 20,000 0.40 8,000 27,000 0.35 9,450 Total 21,200 2021 20,000 .35 7,000 22,500 .35 7,875 30,000 .30 9,000 23,875 2022 30,000 .25 7,500 35,000 .25 8,750 40,000 .50...
A private individual thinks it secures for the next year the objects of value that he has in his house, which he has calculated that they cost 10000€
A private individual thinks it secures for the next year the objects of value that he has in his house, which he has calculated that they cost 10000€. Statistical researches show that the probability of burglary for the next year is 0.03 and that, in the event burglary, the value of stolen will be 10%, 40% and 60% of total value of objects, with probabilities 20%, 30% and 50%, respectively. Actuarial company A debits 150€ the year and in the...
The car dealer has all of their inventory housed in the array seen below. Scroll down...
The car dealer has all of their inventory housed in the array seen below. Scroll down past the data to find out how you can help the car dealer. let inventory = [ { id: 1, car_make: "Lincoln", car_model: "Navigator", car_year: 2009 }, { id: 2, car_make: "Mazda", car_model: "Miata MX-5", car_year: 2001 }, { id: 3, car_make: "Land Rover", car_model: "Defender Ice Edition", car_year: 2010 }, { id: 4, car_make: "Honda", car_model: "Accord", car_year: 1983 }, { id: 5,...
Question 3 A retail outlet sells holiday decorations for $10 per bag. The cost of the...
Question 3 A retail outlet sells holiday decorations for $10 per bag. The cost of the product is $8 per bag. Any units not sold during the selling season can be sold for $5 a bag at the end of the season. Assume that demand for these decorations is normally distributed with a mean of 500 and standard deviation of 100 bags. a. What is the recommended order quantity? b. What is the probability that at least some customers will...
1.A fair die is rolled once, and the number score is noted. Let the random variable...
1.A fair die is rolled once, and the number score is noted. Let the random variable X be twice this score. Define the variable Y to be zero if an odd number appears and X otherwise. By finding the probability mass function in each case, find the expectation of the following random variables: Please answer to 3 decimal places. Part a)X Part b)Y Part c)X+Y Part d)XY ——- 2.To examine the effectiveness of its four annual advertising promotions, a mail...
1)A normal distribution has μ = 24 and σ = 5. (a) Find the z score...
1)A normal distribution has μ = 24 and σ = 5. (a) Find the z score corresponding to x = 19. (b) Find the z score corresponding to x = 35. (c) Find the raw score corresponding to z = −2. (d) Find the raw score corresponding to z = 1.7. 2)Sketch the area under the standard normal curve over the indicated interval and find the specified area. (Round your answer to four decimal places.) The area to the left...
#46 In a survey of 2000 adults 50 years and older of whom 20% were retired...
#46 In a survey of 2000 adults 50 years and older of whom 20% were retired and 80% were pre-retired, the following question was asked: Do you expect your income needs to vary from year to year in retirement? Of those who were retired, 23% answered no, and 77% answered yes. Of those who were pre-retired, 28% answered no, and 72% answered yes. If a respondent in the survey was selected at random and had answered yes to the question,...
he coal mining industry has been hard-hit by environmental regulations. Recently, however, a combination of increased...
he coal mining industry has been hard-hit by environmental regulations. Recently, however, a combination of increased demand for coal and new pollution reduction technologies has led to an improved market demand for coal. WHC has just been approached by Mid-Cen Electric Company with a request to supply coal for its electric generators for the next eight years. WHC does not have enough excess capacity at its existing mines to guarantee the contract. The company is considering opening a strip mine...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT