Question
Johnson has recently opened his workshop at the main street of a major city in the North East. Johnson estimates that 40% of 20 cars
Johnson has recently opened his workshop at the main street of a major city in the North East. Johnson estimates that 40% of 20 cars arriving at his workshop will agree to have the work repaired at his workshop. His average daily cost at the workshop is $1200. He expects to make a revenue of $200 for each car that is repaired. Johnson would like to know the following information:
a) The probability that no car will arrive at his workshop for repair on a given day.
b) The probability that he will have at least 4 cars to repair on a given day.
c) The expected daily profit assuming that he is able to repair all the arriving cars in a day.
d) Develop a probability distribution for this problem.
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