Question 1

A household goods company has recently set up an on-line order system, which has been in operation for 73 days.

When a customer attempts to place an on-line order with a company marketing household goods, a computerized system automatically checks whether the customer has exceeded their credit limit.Past records indicate that the probability of customers exceeding their credit limit is 0.07.Suppose that on a given day 23 customers attempt to place orders with the company.Assume that the number exceeding their credit limit is distributed as a binomial random variable.On that day:

Find the probability that no customers exceed their credit limit.

Give your answer in the form x.xx (i.e. to two decimal places).

Answer:Answer

Question2

A household goods company has recently set up an on-line order system, which has been in operation for 73 days.

When a customer attempts to place an on-line order with a company marketing household goods, a computerized system automatically checks whether the customer has exceeded their credit limit.Past records indicate that the probability of customers exceeding their credit limit is 0.07.Suppose that on a given day 23 customers attempt to place orders with the company.Assume that the number exceeding their credit limit is distributed as a binomial random variable.On that day:

Find the probability that no more than half the customers exceed their credit limit.

Give your answer in the form x.xx (i.e. to two decimal places).

Answer:Answer

Question3

A household goods company has recently set up an on-line order system, which has been in operation for 73 days.

When a customer attempts to place an on-line order with a company marketing household goods, a computerized system automatically checks whether the customer has exceeded their credit limit.Past records indicate that the probability of customers exceeding their credit limit is 0.07.Suppose that on a given day 23 customers attempt to place orders with the company.Assume that the number exceeding their credit limit is distributed as a binomial random variable.On that day:

What is the expected number of customers exceeding their credit limit on a day when there are 23 customers? Give your answer in the form x.xx (i.e. to two decimal places).