Question

In: Statistics and Probability

Suppose the local Best Buy store averages 301 customers every day entering the facility with a...

Suppose the local Best Buy store averages 301 customers every day entering the facility with a standard deviation of 80 customers. A random sample of 50 business days was selected. What is the probability that the average number of customers in the sample is between 290 and 310?

Expert Solution

Solution :

Given that,

mean = = 301

standard deviation = = 80

n = 50

= = 301

= / n = 80/ 50 = 11.3137

P(290 < < 310) = P((290 - 301) / 44.3137<( - ) / < (310 - 301) / 11.3137))

= P(-0.97 < Z < 0.80)

= P(Z < 0.80) - P(Z < -0.97) Using standard normal table,

= 0.7881 - 0.1660

= 0.6221

Probability = 0.6221

The probability that the average number of customers in the sample is between 290 and 310 is 0.6221.

orchestra answered 2 years ago

A small equipment rental facility has nine appliance dollies. There are 14 customers every day who...

A small equipment rental facility has nine appliance dollies. There are 14 customers every day who request this equipment. If the equipment is not available, they leave and go to a competing rental facility. Customers arrive evenly over a 12-hour period (6am to 6pm), 7 days per week. The average rental duration is 6 hours. a. What is the likelihood that a customer going to the rental facility will find an appliance dolly available? b. Assume each 6-hour rental is...

Suppose that in a given store, customers are willing to buy y pounds of coffee beans...

Suppose that in a given store, customers are willing to buy y pounds of coffee beans per day at $x per pound, as given by the price-demand equation y=10+(180/x) for 2 (is less than or equal to) x (is less than or equal to) 10. a. Find y’ with appropriate units. Explain what the first derivative means in this situation by hand. b. Find the demand and the instantaneous rate of change of demand with respect to price when the...

In this scenario you will decide how the best method for entering the local market for...

In this scenario you will decide how the best method for entering the local market for a small business venture. The business will be creating 3D real estate listings for realtors your local area. The industry standard for 3D listings is dominated by a company called Matteport. First research the company Matteport and the service it provides. Then research how many Matteport service providers serve the area that you are in. What is there price points? What services do they...

4. [5 marks] Suppose that Best Buy sells 4 TVs per day on average. a) [1...

4. [5 marks] Suppose that Best Buy sells 4 TVs per day on average. a) [1 marks] What is the probability that 8 TVs will be sold in a day? b) [2 marks] What is the probability that fewer than 3 TVs (inclusive) will be sold in a day? c) [2 marks] Suppose 5 customers enter Best Buy independently. The probability that a single customer will buy a TV is 0.1. What is the probability that at least one of...

please work on this assignment Twenty-five percent of the customers entering a grocery store between 5...

please work on this assignment Twenty-five percent of the customers entering a grocery store between 5 P.M. and 7 P.M. use an express checkout. Consider five randomly selected customers, and let x denote the number among the five who use the express checkout. (a) What is p(3), that is, P(x = 3)? (Round the answer to five decimal places.) p(3) = (b) What is P(x ≤ 1)? (Round the answer to five decimal places.) P(x ≤ 1) = (c) What...

A certain store gives its customers a discount on the goods they buy based on a...

A certain store gives its customers a discount on the goods they buy based on a peculiar manner. The discount percentage is equal to each customer's remainder of weight to age, weight % age. The maximum discount percentage allowed is 10. If the remainder is greater than 10, the discount percentage is recomputed as the remainder of 10. For example, a customer whose weight is 175 lbs and age 61, buys an item costing $60.97. The discount percentage = 175...

Q1. Arrival of customers to a local store may be modeled by a Poisson process with...

Q1. Arrival of customers to a local store may be modeled by a Poisson process with an average of 1 arrival every 10 min period. Each customer on average stays for a time exponentially distributed with mean 15 minutes. This is modeled as a birth-death process. (i) What assumption is necessary for this process to be modeled as a birth-death process? (ii) Compute the probability that the number of customers in the store reaches 30, if we have 3 customers...

Customers at the local Subway store order an ice tea with their meal 75% of the...

Customers at the local Subway store order an ice tea with their meal 75% of the time. Use the Binomial distribution to find the answer to the following. __________ Find the probability that among the next 8 customers, at least 3 will order ice tea with their meal: Of the next 8 customers, how many do you expect to order ice tea with their meal? __________ What is the standard deviation of the number of customers that order ice tea...

The Brampton store has customers arrive every 95 seconds and average service rate of 55 customers...

The Brampton store has customers arrive every 95 seconds and average service rate of 55 customers per hour. What is the average number of customers waiting in line? Answer to 2 decimal places.The Hamilton store has an arrival rate of 30. If the store wanted the average time in the system to be 6 minutes, what would the service rate have to be? Answer to one decimal place.The Brantford store has a service rate of 60 customers per hour. What...

Hank would like to know how many customers are entering his propane store within a given...

Hank would like to know how many customers are entering his propane store within a given timeframe. Prior data indicate that on average 8 customers arrive in a given hour. a. Create the appropriate probability distribution below for 0-12 arrivals. b. What is the probability that 8 or fewer customers will arrive in the next hour? c. What is the probability that exactly 10 customers arrive in the next hour? d. What is the probability that more than 12 customers will...