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    Purchase probability

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    Steele Electronics, Inc. sells expensive brands of stereo equipment in several shopping malls throughout the northwest section of the United States. The Marketing Research Department of Steele reports that 30% of the customers entering the store, who indicate they are browsing, will make a purchase in the end. Let the last 20 customers who enter the store be a sample.

    a. How many of these customers would you expect to make a purchase?
    b. What is the probability that exactly five of these customers make a purchase?
    c. What is the probability ten or more make a purchase?
    d. Does it seem likely at least one will make a purchase?

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    Steele Electronics, Inc. sells expensive brands of stereo equipment in several shopping malls throughout the northwest section of the United States. The Marketing ...

    Solution Summary

    The solution guides students on how to determine purchase probability in a stereo equipment store in the U.S.

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