Question

A style of tennis racket comes in a midsize version and an oversize version. Sixty percent...

A style of tennis racket comes in a midsize version and an oversize version. Sixty percent of all customers at a certain store want the oversize version. Suppose 10 customers enter the store to buy one of the two versions of the above racket.

a) What is the probability that the number of customers wanting the oversized racket is within 1 standard deviation of the expected number of customers wanting the oversized racket?

b) The store has eight rackets of each version. What is the probability that all 10 customers get the version they want from the store’s current stock?

Homework Answers

Answer #1

a)

here this is binomial with parameter n=10 and p=0.6
mean E(x)=μ=np=6
standard deviation σ=√(np(1-p))=1.5492
1 standard deviation from mean values are μ -/+ 1*σ=(4.45,7.55)

therefore probability that the number of customers wanting the oversized racket is within 1 standard deviation of the expected number of customers wanting the oversized racket

=P(5 <=X<=7)=P(X=5)+P(X=6)+P(X=7)

=(10C5)*(0.6)5(.4)5+(10C6)*(0.6)6(.4)4+(10C7)*(0.6)7(.4)3= 0.2007+0.2508+0.2150 =0.6665~ 0.666

b)

probability that all 10 customers get the version they want from the store’s current stock

P(2<=X<=8)= x=ab     (nCx)px(1−p)(n-x)    = 0.9520
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
4) In order to determine the best-selling style of tennis rackets that are sold in State...
4) In order to determine the best-selling style of tennis rackets that are sold in State College, you have collected data from all sporting goods stores in town. A tennis racket is classified by both its head size and grip size. The Excel sheet “Sales Data Tennis Rackets” in Module 3 contains the data you collected for sales of tennis rackets. Each entry in the Excel sheet represents the sale of one tennis racket. You will have to separate your...
      MK Restaurant: Branding of Thai-Style Hotpot The restaurant industry is one of the most...
      MK Restaurant: Branding of Thai-Style Hotpot The restaurant industry is one of the most competitive in Thailand. With a large number of players ranging from restaurants in five-star hotels, global fast-food chains to small stalls along the streets and everything in between, the Thais are spoiled for choice. In addition, as the world becomes globalized, consumers are familiar with international dishes and would not hesitate to try new offerings from the other side of the globe. As a...
1. Running On Carla Gomez is the owner of Running On—a retail store that sells shoes...
1. Running On Carla Gomez is the owner of Running On—a retail store that sells shoes and accessories to runners. Carla is trying to decide what she should do with her retail business and how committed she should be to her current target market. Carla started Running On retail store in 1994 when she was only 24 years old. At that time, she was a nationally ranked runner and felt that the growing interest in jogging offered real potential for...
Question 1 2 pts Let x represent the height of first graders in a class. This...
Question 1 2 pts Let x represent the height of first graders in a class. This would be considered what type of variable: Nonsensical Lagging Continuous Discrete Flag this Question Question 2 2 pts Let x represent the height of corn in Oklahoma. This would be considered what type of variable: Discrete Inferential Distributed Continuous Flag this Question Question 3 2 pts Consider the following table. Age Group Frequency 18-29 9831 30-39 7845 40-49 6869 50-59 6323 60-69 5410 70...
Business Problem-Solving Case Walmart and Amazon Duke It Out for E-Commerce Supremacy Walmart is the world’s...
Business Problem-Solving Case Walmart and Amazon Duke It Out for E-Commerce Supremacy Walmart is the world’s largest and most successful retailer, with $487.5 billion in 2014 sales and nearly 11,000 stores worldwide, including more than 4,000 in the United States. Walmart has 2.2 million employees and ranks first on the Fortune 500 list of companies. Walmart had such a large and powerful selling machine that it really didn’t have any serious competitors—until now. Today, Walmart’s greatest threat is Amazon.com, often...
GoodClothes and MIS: Case from struggle to revamp Headquartered in Dubai, GoodClothes is a highly successful...
GoodClothes and MIS: Case from struggle to revamp Headquartered in Dubai, GoodClothes is a highly successful department retailer offering completely designed casual clothing and accessories. The company operates 10 stores in all seven emirates and 1 store in Al Ain. The company owns 6 stores and franchises 5. For some time, marketing managers targeted population between the ages 40 and 60 who like loose, comfortable clothes. Then, management was tempted to stock its stores with clothes for a younger population...
Pandora is the Internet’s most successful subscription radio service. As of June 2013, it had over...
Pandora is the Internet’s most successful subscription radio service. As of June 2013, it had over 200 million registered users (140 million of which access the service via a mobile device) and over 70 million active listeners. Pandora now accounts for more than 70% of all Internet radio listening hours and a 7% share of total U.S. radio listening (both traditional and Internet). At Pandora, users select a genre of music based on a favorite musician, and a computer algorithm...
Review the Robatelli's Pizzeria Case Study. Develop another internal controls system, but this time, in the...
Review the Robatelli's Pizzeria Case Study. Develop another internal controls system, but this time, in the purchases and fixed assets business areas. Prepare a 12- to 16-slide presentation describing the purchases and fixed assets business areas. Be sure to incorporate speaker notes as well as appropriate visuals, graphics, fonts, etc. Include any associated risk in these areas. Describe specific internal controls that include authorization of transactions, segregation of duties, adequate records and documentation, security of assets, and independent checks and...
Wal-Mart Online Wal-Mart is one of the largest companies in America. It is definitely the largest...
Wal-Mart Online Wal-Mart is one of the largest companies in America. It is definitely the largest retailer, both in terms of the number of stores (8,970 worldwide in 2011) and the level of sales ($419 billion from the 2011 Annual Report). By pushing suppliers to continually reduce costs, Wal-Mart is known for pursuing low prices and the stores often attract customers solely in-terested in lower prices. With Wal-Mart’s expansion into groceries, the company has be-come the largest retail grocer in...
Muffler Magic* Muffler Magic is a fast-growing chain of 25 automobile service centers in Nevada. Originally...
Muffler Magic* Muffler Magic is a fast-growing chain of 25 automobile service centers in Nevada. Originally started 20 years ago as a muffler repair shop by Ronald Brown, the chain expanded rapidly to new locations, and as it did so Muffler Magic also expanded the services it provided, from muffler replacement to oil changes, brake jobs, and engine repair. Today, one can bring an automobile to a Muffler Magic shop for basically any type of service, from tires to mufflers...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT