The daily number of customers entering a large grocery store who purchase one or more dairy products
Question:
The daily number of customers entering a large grocery
store who purchase one or more dairy products is
given by the outcome of a binomial random variable Xt
with parameters p and nt for day t. The number of
customers who enter the grocery store on any given day,
nt, is itself an outcome of a random variable Nt that has
a discrete uniform distribution on the range
{200,201,. . .,300}. The Xt’s and the Nt’s are jointly independent.
The local dairy products commission wants an estimate of the daily proportion of customers entering the store who purchase dairy products and wants you to use
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Related Book For
Mathematical Statistics For Economics And Business
ISBN: 9781461450221
2nd Edition
Authors: Ron C.Mittelhammer
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