Question

14. Four percent of the customers of a car dealership buy the most expensive car in...

14. Four percent of the customers of a car dealership buy the most expensive car in the lot. A sample of five customers is selected. What is the probability that exactly two customers in the sample will buy the most expensive car?

                a. 0.2592             

                b. 0.7408            

                c. 0.9588             

                d. 0.0142

I need the solution please

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Hi Dear,
I have given my 100% to solve this question.
Please help me out by just thumbs up.
Thank you.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Sixty percent of the customers who go to Sears Auto Center for tires buy four tires...
Sixty percent of the customers who go to Sears Auto Center for tires buy four tires and 22% buy two tires. Moreover, 14% buy fewer than two tires, with 4% buying none. a. What is the probability that a customer buys three tires? (Round your answer to 2 decimal places.) b. Construct a cumulative probability distribution for the number of tires bought. (Round your answer to 2 decimal places.)
Two percent of the customers of a store buy cigars. Half of the customers who buy...
Two percent of the customers of a store buy cigars. Half of the customers who buy cigars buy beer. 25 percent who buy beer buy cigars. Determine the probability that a customer neither buys beer nor buys cigars. 8) _______ A) 0.96 B) 0.98 C) 0.75 D) 0.95 E) 0.50
Five percent of the customers of a mortgage company default on their payments. A sample of...
Five percent of the customers of a mortgage company default on their payments. A sample of ten customers is selected. What is the probability that exactly three customers in the sample will default on their payments? .0105 .3125 .0006 .1172
You are selling your car. Potential customers will buy the car with probability p=0.05 Answer the...
You are selling your car. Potential customers will buy the car with probability p=0.05 Answer the following questions, rounding your answers to 4 digits. 1 a) Numerical What is the probability that the 11th customer will buy the car? 1 b) Numerical What is the probability that one of the first 11 customers will buy the car? 1 c) Numerical What is the expected rank of the customers who will buy the car, E(X)? 1 d) Algebraic Enter the formula...
A hotel claims that 85 % of its customers are very satisfied with its service. Complete...
A hotel claims that 85 % of its customers are very satisfied with its service. Complete parts a through d below based on a random sample of five customers. a. What is the probability that exactly four customers are very satisfied? _______ (Round to four decimal places as needed.) b. What is the probability that more than four customers are very satisfied? ______ (Round to four decimal places as needed.) c. What is the probability that less than three customers...
5 Suppose that 60 percent of customers at a McDonalds purchase a hamburger, and assume that...
5 Suppose that 60 percent of customers at a McDonalds purchase a hamburger, and assume that the purchases of different customers are independent. a) What is the probability that at most 7 of the next 10 customers will order a hamburger? b) What is the probability that exactly 6 of the next 10 customers will order a hamburger? ( c) There are 10 customers is line. Find the expected number of customers that will buy hamburgers. (
Suppose a car dealership offers a low-interest rate and a longer payoff period to customers or...
Suppose a car dealership offers a low-interest rate and a longer payoff period to customers or a high-interest rate and a shorter payoff period to customers. During the first month these options were available to customers, more customers choose the low-interest rate and longer payoff period. A. Does this mean does mean most customers want a lower interest rate? Explain why this may or may not be a valid assumption. B. Calculate the estimated interest and total costs for customers...
4. Question 4 (6 marks) Based on the past experience, it is estimated that five percent...
4. Question 4 Based on the past experience, it is estimated that five percent of the customers of a mortgage company default on their payments. A sample of 20 customers is selected. a. What is the probability that exactly one customer in the sample will default on their payments? [2 marks] b. What is the probability that at least one customer in the sample will default on their payments? [2 marks] c. What is the probability that at most three...
The rental car agency has 30 cars on the lot. 10 are in great shape, 16...
The rental car agency has 30 cars on the lot. 10 are in great shape, 16 are in good shape, and 4 are in poor shape. Four cars are selected at random to be inspected. Do not simplify your answers. Leave in combinatorics form. What is the probability that: a. Every car selected is in poor shape b. At least two cars selected are in good shape. c. Exactly three cars selected are in great shape. d. Two cars selected...
Exhibit 4 (Questions 19-22) The manager of the service department of a local car dealership has...
Exhibit 4 (Questions 19-22) The manager of the service department of a local car dealership has noted that the service times of a sample of 15 new automobiles has a sample standard deviation of S = 4 hours. We are interested to test the following hypotheses using α = 0.05 level of significance: H0 : σ2 ≤ 14 Ha : σ2 > 14 Refer to Exhibit 4. Assuming that the population of service times follows an approximately normal distribution, what...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT