Statistics

4) (12pts) Suppose we are interested in analyzing how many customers will spend over $50 at a certain retailer. Past data reveals that 10% of customers spend over 550. There are currently 10 customers shopping in the store. (a) Compute the probability that none of these 10 customers spend over 550. (b) Compute the probability that of the 10 customers, less than 2 customers spend over $50 or more than 8 customers spend over 550. (c) Compute the probability that 10% of these 10 customers spend over $50. (d) Compute the probability that all 10 customers spend over $50 if we can already see that at least 8 of the customers will spend over $50