Historically, 70% of your customers at Rodale Emporium pay for their purchases using credit cars. In a sample of 20 customers, find the probability that

a. Exactly 14 customers will pay for their purchases using credit cards.
b. At least 10 customers will pay for their purchases using credit cards.
c. At most 12 customers will pay for their purchases using credit cards.

Solution Summary

This solution is comprised of a detailed explanation for calculating the probabilities using Binomial distribution. All questions are answered using the binomial distribution with the help of binomial table to find the probabilities. The detailed solution is provided for better understanding.

I am planning on building an airport. There are only two parcels, labeled A and B on which the airport could feasibly be built. A corp. knows that once a parcel is chosen the cost of land near the airport will go up so they are considering buying land for an airport hotel adjacent to one of both of these parcels now before a sit

Develop a worksheet simulation for the following problem. The management of Madeira Manufacturing Company is considering the introduction of a new product. The fixed cost to begin the production of the product is $30,000. The variable cost for the product is uniformly distributed between $16 and $24 per unit. The product will se

Of the drivers who stop at a gas station, 92% purchase gasoline, and 6% purchase both gasoline and oil. A total of 7% purchase oil.
Questions:
(a) What is the probability that a driver purchases gasoline, given that he or she purchases oil?
(b) What is the probability that a driver purchases oil, given that he or she pur

The average monthly gasoline purchase for a family with 2 cars is 90 gallons. This statistic has a normal distribution with a standard deviation of 10 gallons. A family is chosen at random.
(a) Find the probability that the family's monthly gaoline purchases will be between 88 and 98 gallons.
(b) Find the probability that the

The probability of throwing any two numbers on a die - say, either a 1 or a 2 - on a single throw is one chance out of three, or 33%.
When calculating the probability of repeating favorable throws with a single die the probability of throwing a 1 or a 2 twice in succession is 1/9, which is the square of one chance out of

Two cards are drawn from single deck of 52 cards one after the other.
- Find the probability of selecting a king from the first card.
- If the first card is king and the card is not replaced, what is the probability of selecting a king from the second card?
- Find the probability of selecting a king from the first card

(1) The probability that a house in an urban area will be burglarized is 5%. If 15 houses are randomly selected what is the probability that:
(A) Exactly 2 of the houses will be burglarized.
(B) Two or fewer houses will be burglarized.
(2) The mean monthly gasoline purchase for a family with 2 cars is 62 gallons. This st

A wheel with the following probabilities is spun:
Prob(1)= 0.50, Prob (2) = 0.20, Prob (3) = 0.30
If the wheel is spun 3 times find probability that the sum of numbers you get = 6

X~N(500,400) Determine the following
Random Variable X
a) P( X <= 515 )
b) P( X <= 515 | X > 450 ) (note: "|" implies given)
c) P( 20 < X^(1/2) <= 25 ) ( i.e. 20 < "square root of X" < 25 )
please clearly state each step for each part. The attached file states the problem again.