This preview has intentionally blurred sections. Sign up to view the full version.
View Full Document
Unformatted text preview: * e. 82.58 % 1 f. 87.29 % 4. When a customer places an order with Rudy’s OnLine 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...
View
Full Document
 Spring '08
 HUDGINS
 Normal Distribution, Standard Deviation, Variance, Probability theory, credit limit

Click to edit the document details