Question

# BINOMIAL PROBABILITIES Big Box Store (BBS) has an annual rate of 4% of all sales being...

BINOMIAL PROBABILITIES

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?

Type the answer and any work below.

FOR 4 – 9, OPEN THE EXCEL EXAM TWO FILE. THE SPREADSHEET FOR THIS PROBLEM IS FOUND ON SHEET TWO. COMPLETE AND SAVE YOUR WORK IN EXCEL AND ENTER THE SOLUTIONS BELOW.

(4) (2.5 points) What is the probability that a random sample of 30 sales has 5 returns?

Type the answer and any work below.

(5) (2.5 points) What is the probability that a random sample of 30 sales has at least 5 returns?

Type the answer and any work below.

(6) (2.5points) What is the probability that a random sample of 30 sales has 5 or fewer

returns? Type the answer and any work below.

(7) (2.5 points) What is the probability that a random sample of 30 sales has less than four

returns? Type the answer and any work below.

(8) (2.5 points) What is the probability that the number of returns is not equal to 4 in a random

sample of 30 sales? Type the answer and any work below.

(9) (2.5 points) What is the probability that a random sample of 30 sales has more than three

returns? Type the answer and any work below.

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