A creative entrepreneur has created a novelty soap called jackpot. Inside each bar of jackpot soap is

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A creative entrepreneur has created a novelty soap called jackpot. Inside each bar of jackpot soap is a rolled-up bill of U.S. currency. There are 1000 bars of soap in the initial offering of the soap. Although the denomination of the bill inside a bar of soap is unknown, the distribution of bills in these first 1000 bars is given in the following table:
Bill Denomination Number of Bills $1 $5 520 260 $10 $20 $50 130 60 29 $100 Total 1 1000

How many bars of soap does a customer have to buy so that, on average, she has purchased two containing a $50 or $100 bill?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Essentials Of Business Analytics

ISBN: 611

1st Edition

Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams

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