Question
In: Statistics and Probability
This is my 3rd time posting this question, first time was wrong: The Zagat Restaurant Survey...
This is my 3rd time posting this question, first time was wrong:
The Zagat Restaurant Survey provides food, decor, and service ratings for some of the top restaurants across the United States. For 18 restaurants located in a certain city, the average price of a dinner, including one drink and tip, was $48.60. You are leaving on a business trip to this city and will eat dinner at three of these restaurants. Your company will reimburse you for a maximum of $50 per dinner. Business associates familiar with these restaurants have told you that the meal cost at one-third of these restaurants will exceed $50. Suppose that you randomly select three of these restaurants for dinner. (Round your answers to four decimal places.)
(a)What is the probability that none of the meals will exceed the cost covered by your company?
(b)What is the probability that one of the meals will exceed the cost covered by your company?
(c)What is the probability that two of the meals will exceed the cost covered by your company?
(d)What is the probability that all three of the meals will exceed the cost covered by your company?
Solutions
orchestra answered 1 year agoRelated Solutions
The Zagat Restaurant Survey provides food, decor, and service ratings for some of the top restaurants...
The Zagat Restaurant Survey provides food, decor, and service
ratings for some of the top restaurants across the United States.
For 21 restaurants located in a certain city, the average price of
a dinner, including one drink and tip, was $48.60. You are leaving
on a business trip to this city and will eat dinner at three of
these restaurants. Your company will reimburse you for a maximum of
$50 per dinner. Business associates familiar with these restaurants
have told...
The Zagat Restaurant Survey provides food, decor, and service ratings for some of the top restaurants...
The Zagat Restaurant Survey provides food, decor, and service
ratings for some of the top restaurants across the United States.
For 18 restaurants located in a certain city, the average price of
a dinner, including one drink and tip, was $48.60. You are leaving
on a business trip to this city and will eat dinner at three of
these restaurants. Your company will reimburse you for a maximum of
$50 per dinner. Business associates familiar with these restaurants
have told...
The Zagat Restaurant Survey provides food, decor, and service ratings for some of the top restaurants...
The Zagat Restaurant Survey provides food, decor, and service
ratings for some of the top restaurants across the United States.
For 24 restaurants located in a certain city, the average price of
a dinner, including one drink and tip, was $48.60. You are leaving
on a business trip to this city and will eat dinner at three of
these restaurants. Your company will reimburse you for a maximum of
$50 per dinner. Business associates familiar with these restaurants
have told...
The Zagat Restaurant Survey provides food, decor, and service ratings for some of the top restaurants...
The Zagat Restaurant Survey provides food, decor, and service
ratings for some of the top restaurants across the United States.
For 21 restaurants located in a certain city, the average price of
a dinner, including one drink and tip, was $48.60. You are leaving
on a business trip to this city and will eat dinner at three of
these restaurants. Your company will reimburse you for a maximum of
$50 per dinner. Business associates familiar with these restaurants
have told...
This is my second time posting this question. Can the answer be typed please? Its hard...
This is my second time posting this question. Can the answer be
typed please? Its hard to read someones handwritten cursive
response.
In recent years, many elderly people have purchased Medigap
insurance policies to cover a growing Medicare copayment. These
policies cover some or all of the medical costs not covered by
Medicare. Use economic theory to explain how the growth of these
policies is likely to influence the demand for health care by
elderly people.
Need solution for 3rd question I solved first part below is my answers so far. Really...
Need solution for 3rd question
I solved first part below is my answers so far. Really need help
on second question.
Below is the Background, What I need to do, and the price data
to start with. Any help with getting me started is appreciated.
Background
The Book Emporium wants to price books to optimize profits. The
spreadsheet for this homework has
sales data on Harry Potter book 7. For each week, the Book Emporium
varied prices on Harry...
The 2003 Zagat Restaurant Survey provides food, décor, and service ratings for some of the top restaurants across the United States
The 2003 Zagat Restaurant Survey provides food, décor, and service ratings for some of the top restaurantsacross the United States. For 15 top-ranked restaurants located in Boston, the average price of a dinnerincluding, one drink and tip, was $48.60. You are leaving for a business trip to Boston and will eat dinner atthree of these restaurants. Your company will reimburse you for a maximum of $50 per dinner. Businessassociates familiar with these restaurants have told you that the meal cost...
I AM POSTING MY QUESTION 12TH TIME PLEASE PROPER EXPLAIN THE FOLLOWING TERMS WITH EXAMPLES 1)...
I AM POSTING MY QUESTION 12TH TIME PLEASE PROPER EXPLAIN THE
FOLLOWING TERMS WITH EXAMPLES
1) INCREMENTAL COST
2) OPPORTUNITY COST
3) SUNK COST
4) RECURRING AND NON-RECURRING COST
5) FIXED , VARIABLE, TOTAL COST
6) AVERAGE AND MARGINAL COST
7) ENGINEERING COST AND COST ESTIMATING
PLEASE DEFINE ALL THESE THINGS WITH PROPER EXAMPLES I AM
PREPARING FOR MY FINAL WHICH IS TOMMOROW
( I am posting this for the third time. The first time I posted, whoever did...
( I am posting this for the third time. The first time I
posted, whoever did it, he did not read the instruction and did not
mention the letters with the answer, such as which one is A, B, C,
D, E, F, while he was answering. The 2nd time I posted, whoever did
it, he had handwritten it. So, I faced difficulty to understand the
handwriting. The handwriting was horrible. Please mention the
letters with the answers this time...
I'll rate posting for 3rd time please do all parts you gotta do is "job cost sheet"...
I'll rate posting for 3rd
time please do all parts you gotta do is "job
cost sheet" , "journal", and
final question
Maria Young is the sole stockholder of Purl of Great Price
Company (POGP Company), which produces high-end knitted sweaters
and sweater vests for sale to retail outlets. The company started
in January of the current year, and employs three knitters (each of
whom work 40 hours per week) and one office manager/knitting
supervisor (this employee works 20 hours per...
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