Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.As stated, by 1998 APS cameras owned 20% of the point and shoot camera market. Now it is the year 2003 and the market share

1.As stated, by 1998 APS cameras owned 20% of the point and shoot camera market. Now it is the year 2003 and the market share might be nearer to 40%. Suppose 30 customers from the point and shoot camera market are randomly selected. If the market share is really .40, what is the expected number of point and shoot camera customers who purchase an APS camera? What is the probability that six or fewer purchases and APS camera? Suppose you actually got six or fewer APS customers in the sample of 30. Based on the probability just calculated, is this enough evidence to convince you that the market share is 40% Why or why not?

2.Suppose customer complaints on the 24 millimeter film are poison distributed atan average rate of 2.4 complaints/100,000 rolls sold.Suppose further that Fuji is having trouble with shipments being late and one batch of 100,000 rolls yieldsseven complaints from customers. Assuming that it is unacceptable to management for the average rate of complaints to increase, is this enough evidence to convince management that the average rate of complaints has increased, or can it be writtenoff as a random occurrence that happens quite frequently? Produce the Poisson distribution for this question and discuss its implication for this problem.

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

Elementary Statisitcs

Authors: Barry Monk

2nd edition

1259345297, 978-0077836351, 77836359, 978-1259295911, 1259295915, 978-1259292484, 1259292487, 978-1259345296

More Books

Students also viewed these Mathematics questions