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Use the following scenario to answer the next 5 questions. As a way of fund raising, you decide to set up a hot dog stand, after a few weeks of doing...

This question was answered on Jan 31, 2013. View the Answer
Use the following scenario to answer the next 5 questions. As a way of fund raising, you decide to set up a hot dog stand, after a few weeks of doing this you sell 8 hot dogs every 10 minutes.

7) What is the probability you will sell 3 or less hot dogs in 10 minutes?




8) If you need to sell more than 3 hot dogs in 10 minutes to breakeven, what is the probability that you will break even in the next 10 minutes?





9) What is the expected number of hot dogs sold in 1 minute?





10) What is the expected number in 3 minutes?





11) What is the probability of selling exactly 3 hot dogs in 3 minutes?

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What is the probability you will sell 3 or less hot dogs in 10 minutes
Use the following scenario to answer the next 5 questions. As a way of fund raising, you
decide to set up a hot dog stand,...

This question was asked on Jan 28, 2013 and answered on Jan 31, 2013.

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