Probability Refunds to Customers
Not what you're looking for?
Records of a department store show that 5% of customers who make a purchase return the merchandise for refund. Of the remaining customers, 9% return the mechanise in order to exchange it.
a) In the next six purchase, what is the probability that at most one will return for refund?
b) In a sample of eight customers, exactly 2 returned the merchandise for refund. What is the probability that less than give will return the merchandise for exchange?
Purchase this Solution
Solution Summary
The probability refund to customers are determined. Merchandise exchange for remaining customers are determined.
Solution Preview
a)
Prob = p(0) + p(1) - 0.735+0.23 = 0.967
p=0.05
N = 6
(6,0)
0.05(1-0.05)to the power of 6 = ...
Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.