Lucky Dogs sells spicy hot dogs from a pushcart. The owner of Lucky Dogs is open every

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Lucky Dogs sells spicy hot dogs from a pushcart. The owner of Lucky Dogs is open every day between 11:00 a.m. and 1:00 p.m. Assume the demand for spicy hot dogs follows a Poisson distribution with a mean of 50 per hour.
a. What is the probability the owner will run out of spicy dogs over the two-hour period if he stocks his cart with 115 spicy dogs every day?
b. How many spicy hot dogs should the owner stock if he wants to limit the probability of being out of stock to less than 2.5%? Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...
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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Business Statistics A Decision Making Approach

ISBN: 9780133021844

9th Edition

Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry

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