A manager at a local grocery store learns that 75% of her customers will use a credit

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A manager at a local grocery store learns that 75% of her customers will use a credit card when making a purchase. Use Excel’s Analysis ToolPak or R, both with a seed of 1, to simulate a sample of 12 customers waiting in line at the grocery store to make a purchase and repeat the simulation 500 times. Based on the 500 simulations, report the average number of customers who use a credit card to make a purchase. What is the range of the number of customers using a credit card?

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Business Analytics Communicating With Numbers

ISBN: 9781260785005

1st Edition

Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen

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