Question
Trevor is interested in purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana. After examining accounting records for the past
Trevor is interested in purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana. After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 55% of the business days it is open. Estimate the probability that the store will gross over $850 for the following. (Round your answers to three decimal places.)
a.at least 3 out of 5 business days b.at least 6 out of 10 business days c.fewer than 5 out of 10 business days
d.fewer than 6 out of the next 20 business days e.more than 17 out of the next 20 business days
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