Question

In: Math

According to the National Automobile Dealers Assoc., 75% of U.S. car dealers' profits comes from repairs...

According to the National Automobile Dealers Assoc., 75% of U.S. car dealers' profits comes from
repairs and parts sold. However, many of the dealerships' service departments aren't open evenings
or weekends. The percentage of dealerships opened during the evenings and weekends are as
follows:
Time Dealerships are Open Percentage of Dealerships
Weekends but not evenings 37.5
Evenings but not weekends 13.2
Both evenings and weekends 11.3
a. Are the listed times mutually exclusive?
b. What is the probability that a car dealership selected at random is not open in the
     evenings or on the weekends?
c. Suppose two car dealerships, say, Dealership A and Dealership B, are each selected at
     random from car dealerships in the United States. What is the probability that both are open
     in the evenings but not on the weekends, or that both are open on the weekends but not in
     the evenings?
d. For the two dealerships in part c, what is the probability that Dealership A is open in the  
     evenings but not on the weekends, and Dealership B is open on the weekends but not in the
     evenings?
e. For the two dealerships in part c, what is the probability that one of them is open in the  
     evenings but not on the weekends, and that the other is open on the weekends but not in the
     evenings?

Solutions

Expert Solution


Related Solutions

According to the National Automobile Dealers Assoc., 75% of U.S. car dealers' profits comes from repairs...
According to the National Automobile Dealers Assoc., 75% of U.S. car dealers' profits comes from repairs and parts sold. However, many of the dealerships' service departments aren't open evenings or weekends. The percentage of dealerships opened during the evenings and weekends are as follows: Time Dealerships are open Percentage of Dealerships Weekends but not evenings 37.5 Evenings but not weekends 13.2 Both evenings and weekends 11.3 a. Are the listed times mutually exclusive? b. What is the probability that a...
According to the National Automobile Dealers Association, the mean price for used cars is $10,192. A...
According to the National Automobile Dealers Association, the mean price for used cars is $10,192. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are shown. Sale Price 12400 10400 12100 10000 11000 8895 7675 9975 6350 10470...
According to a study by the American Pet Food Dealers Association, 63% of U.S. households own...
According to a study by the American Pet Food Dealers Association, 63% of U.S. households own pets. A report is being prepared for an editorial in the San Francisco Chronicle. As a part of the editorial, a random sample of 300 households showed 210 own pets. Do these data disagree with the Pet Food Dealers Association's data? Use a .05 level of significance. Why can you employ Z as the test statistic? State the null and alternate hypotheses. The decision...
1. According to the U.S. Department of Education. Institute of Education Sciences, National Center for Education...
1. According to the U.S. Department of Education. Institute of Education Sciences, National Center for Education Statistics 1,026,000 high school seniors (rounded to the nearest thousand) took the ACT test as part of the college admissions process. The mean composite score was 21.1 with a standard deviation of 4.8. The ACT composite score ranges from 1 to 36, with higher scores indicating greater achievement in high school. According to the central limit theorem, what are the mean and standard error...
According to the National Institute of Allergy and Infectious Diseases, approximately 6% of U.S. children 4...
According to the National Institute of Allergy and Infectious Diseases, approximately 6% of U.S. children 4 years of age or younger have a food allergy. A day care program has capacity for 10 children in that age range. Assume that the children attending the day care program are independent. Let the random variable X be the number of children in this day care who have a food allergy. 1. Which distribution does X follow? a. Normal distribution with mean 8...
a) According to the U.S. National Weather Service, at any given moment of any day, approximately...
a) According to the U.S. National Weather Service, at any given moment of any day, approximately 1000 thunderstorms are occurring worldwide. Many of these storms include lightning strikes. Sensitive electronic equipment is used to record the number of lightning strikes worldwide every day. 19 days were selected at random, and the number of lightning strikes on each day was recorded. The sample mean was 9.3 million. Assume the distribution of the number of lightning strikes per day is normal and...
According to the U.S. Census​ Bureau, the Gini ratio in the U.S. rose from 0.479 to...
According to the U.S. Census​ Bureau, the Gini ratio in the U.S. rose from 0.479 to 0.486 between 2015 and 2018. This implies which of the​ following? A. The area between the Lorenz curve and the line of equality increased from 0.243 in 2015 to 0.521 in 2018. B. The area between the Lorenz curve and the line of equality decreased from 0.521 in 2015 to 0.243 in 2018. C. The Lorenz curve in the U.S. was farther away from...
Multi-part question: According to the National Association of Realtors, 42% of U.S. homes sold in March...
Multi-part question: According to the National Association of Realtors, 42% of U.S. homes sold in March 2017 were purchased by first-time buyers. A random sample of 179 people who just purchased homes is selected. a. Calculate the standard error of the proportion. b. What is the probability that less than 80 of them are first-time buyers? c. What is the probability that more than 84 of them are first-time buyers? d. What is the probability that between 66 and 72...
Please include bell shape curve. According to the National Association of Realtors, 44% of U.S. homes...
Please include bell shape curve. According to the National Association of Realtors, 44% of U.S. homes sold in March 2010 were purchased by first-time buyers. A random sample of 175 people who just purchased homes is selected. a. Calculate the standard error of the proportion. b. What is the probability that less than 80 of them are first-time buyers? c. What is the probability that more than 84 of them are first-time buyers? d. What is the probability that between...
According to IRPT, only the most skilled arbitrageurs are able to earn pure profits from their...
According to IRPT, only the most skilled arbitrageurs are able to earn pure profits from their covered interest arbitrage activities. TRUE OR FALSE? Aluminum sells in the U.S. for $225/unit, and sells in Canada for CD150/unit. If the spot rate is $1.75/CD, arbitrageurs would buy aluminum in Canada and sell it in the U.S. TRUE OR FALSE? PPP holds equally for services and for commodities. TRUE OR FALSE? The current spot rate is $0.95 = 1.0, and interest rates on...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT