Two movie theaters compete for the business of 1,000 customers. Assume that each customer chooses between the
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(a) Using a binomial model, find an expression for N that will guarantee that the probability of turning away a customer (because of a full house) is less than 1%.
(b) Use the normal approximation to get a numerical value for N.
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a We want PX N 01 where X binomial1000 12 Since the 1000 customers choose randomly we take p 12 We t...View the full answer
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