Steele Electronics Inc. sells expensive brands of stereo equipment in several shopping malls. The marketing research department
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Steele Electronics Inc. sells expensive brands of stereo equipment in several shopping malls. The marketing research department of Steele reports that 30% of the customers entering the store that indicate they are browsing will, in the end, make a purchase. Let the last 20 customers who enter the store be a sample.
a. How many of these customers would you expect to make a purchase?
b. What is the probability that exactly five of these customers make a purchase?
c. What is the probability 10 or more make a purchase?
d. Does it seem likely at least one will make a purchase?
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Related Book For
Basic Statistics For Business & Economics
ISBN: 9781259268939
6th Canadian Edition
Authors: Douglas A. Lind, William G Marchal, Samuel A. Wathen, Carol Ann Waite
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