Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

12. A company makes electronic gadgets. One out of every 50 gadgets is faulty, but the company doesn't know which ones are faulty until a

image text in transcribed
12. A company makes electronic gadgets. One out of every 50 gadgets is faulty, but the company doesn't know which ones are faulty until a buyer complains. Suppose the company makes a $3 profit on the sale of any working gadget, but suffers a loss of $80 for every faulty gadget because they have to repair the unit. Find the expected profit for the company. Then estimate their total profit if they sell 150,000 gadgets. 13. Determine if an experiment is binomial. Which of the following is a binomial experiment: A. Randomly interview 35 Americans asking if they voted in the prior election. B. Randomly selecting 10 days out of the summer (summer has approximately 92 days) and recording if each day at a veterinary clinic had at least 15 patient visits. C. Randomly survey 50 traffic lights in a large city at 3pm and record if the light was red, green, or yellow at that time. D. Guessing randomly at all answers on a quiz that has 10 multiple choice questions (with 4 answer choices on each question), and 5 true false questions. E. Toss a fair coin until you obtain 10 heads

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Algebra With Trigonometry

Authors: Charles P McKeague

1st Edition

1483218759, 9781483218755

More Books

Students also viewed these Mathematics questions