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Unformatted text preview: * e. 82.58 % 1 f. 87.29 % 4. When a customer places an order with Rudy’s On-Line Office Supplies, a computerized accounting information system (AIS) automatically checks to see if the customer has exceeded his or her credit limit. Past records indicate that the probability of customers exceeding their credit limit is .05. Suppose that on a given day, 360 orders are placed. What is the probability that between 10 and 20 customers will exceed their credit limit? .6576 5. Refer to question 4. The company receives an extra processing charge of 8 cents for each customer that exceeds his/her credit limit. For the sample in problem 4, what is the probability that total daily processing fee will exceed $2.00? .0446 (or .0455 is the standard deviation is not rounded to the nearest cent) 2...
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This note was uploaded on 04/07/2008 for the course ECON 2843 taught by Professor Hudgins during the Spring '08 term at The University of Oklahoma.
- Spring '08