Question

In: Statistics and Probability

Amazon's third-largest market is the United Kingdom. In 2019, the employees at a local firm in...

Amazon's third-largest market is the United Kingdom. In 2019, the employees at a local firm in London received their salary and decided to spend a portion of it on making online purchases from Amazon. The probability that the online purchases will be shipped on time to each employee is 0.68. Determine the following:

a. The probability that three products will be shipped on time.

b. The probability that out of three, two products will be shipped on time.

Solutions

Expert Solution

Solution :

Given that, the probability that the online purchases will be shipped on time to each employee is 0.68.

a) We have to obtain the probability that three products will be shipped on time.

Using multiplication theorem of probability we shall get the probability that three products will be shipped on time.

The probability that three products will be shipped on time = 0.68 × 0.68 × 0.68 = 0.314432.

b) We have to obtain the probability that out of thrre, two products will be shipped on time.

If out of three products, two product will be shipped on time, then one product will not be shipped on time.

Probability that a product will not be shipped on time will be (1 - 0.68) = 0.32.

And probability that two products will be shipped on time will be (0.68 × 0.68) = 0.4624

Total number of ways of selecting 2 product from 3 products which will be shipped on time is given by,

Hence, probability that out of three, two products will be shipped on time is,

The probability that out of three, two products will be shipped on time is 0.443904.


Related Solutions

Tesco is the largest chain of supermarkets in the United Kingdom. The have expanded internationally and...
Tesco is the largest chain of supermarkets in the United Kingdom. The have expanded internationally and have recently also opened stores in Morocco. However, Tesco has since experienced a variety of issues with the Moroccan market. As business development analyst you only see the three following options for Tesco business in Morocco: Today is December 31, 2020. Suppose you have the following information about the financial implications of Tesco’s three strategic options. Option 1: Scale down operations Tesco immediately starts...
Tesco is the largest chain of supermarkets in the United Kingdom. The have expanded internationally and...
Tesco is the largest chain of supermarkets in the United Kingdom. The have expanded internationally and have recently also opened stores in Morocco. However, Tesco has since experienced a variety of issues with the Moroccan market. As business development analyst you only see the three following options for Tesco business in Morocco: Today is December 31, 2020. Suppose you have the following information about the financial implications of Tesco’s three strategic options. Option 1: Scale down operations Tesco immediately starts...
Sainsbury's is the second largest chain of supermarkets in the United Kingdom. The have expanded internationally...
Sainsbury's is the second largest chain of supermarkets in the United Kingdom. The have expanded internationally and have recently also opened stores in Egypt. However, Sainsbury has since experienced a variety of issues with the Egyptian market. As business development analyst you only see the three follow- ing options for Sainsbury’s business in Egypt: Today is December 31, 2000. Suppose you have the following information about the financial implications of Sainsbury’s three strategic options. Option 1: Scale down operations Sainsbury’s...
explain in detail United Kingdom bond market with example and charts
explain in detail United Kingdom bond market with example and charts
explain in details about united kingdom commodities market with charts and example
explain in details about united kingdom commodities market with charts and example
In 2016, United Kingdom voted to leave the European Union. On Marsh 29, 2019 the Brexit...
In 2016, United Kingdom voted to leave the European Union. On Marsh 29, 2019 the Brexit AKA secession from the Union is schedule to take place. The referendum results and the approaching date of the secession have negatively affected business environment in the UK leading to a growth rate slowdown in the Kingdom. Explain how the Brexit ( and the expectation of the Brexit) affect   the U.S. economy. Using all the ISLM and ADAS diagrams illustrate the effect of the...
A United Kingdom firm is planning to hedge an import payment of USD 10 million dollars...
A United Kingdom firm is planning to hedge an import payment of USD 10 million dollars due in 9 months (i.e. the firm will expect to pay the US $10 million in 9 months-time). The spot rate is 1 UK = 1.25 USD. Note: UK = UK pounds. USD = US Dollars. The 9-month forward rate is 1 UK = 1.2575 USD. The nine-month interest rate for borrowing (and lending) in the United Kingdom (UK) is 1.00% p.a. and in...
Consider the market for the British pound sterling (GBP). Note that although the United Kingdom (Great...
Consider the market for the British pound sterling (GBP). Note that although the United Kingdom (Great Britain) is an official member of the European Union, it has chosen not to adopt the euro as its official currency. For each of the following, determine whether the situation described is part of the supply, demand, or neither side in the foreign exchange market for GBP. a. John and Adam are British economists who are going to Washington, D.C. for an economics conference....
A random sample of 25 employees of a local utility firm showed that their monthly incomes...
A random sample of 25 employees of a local utility firm showed that their monthly incomes had a sample standard deviation of $112. Provide a 90% confidence interval estimate for the standard deviation of the incomes for all the firm's employees.
Housing market in the United States between 2015-2019 • Use the model of supply and demand...
Housing market in the United States between 2015-2019 • Use the model of supply and demand and provide a textual and diagrammatic explanation, using the supply and demand curves for the changes in the prices of the good • Explain the elasticity of supply and demand of the good • Discover and describe the market structure of the good and specifically if there are any cartels/price fixing activities in the industry effecting the price changes discussed
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT