Question

# A particular type of smart phone comes in a regular-size version...

A particular type of smart phone comes in a regular-size version and a "plus-size"

version. 60% of all customers prefer the "plus-size" version.

(a) Among 10 randomly selected customers who want this type of smart phone, what is the

probability that at least eight want the "plus-size" version?

(b) Among 10 randomly selected customers, what is the probability that the number of

customers who want the "plus-size" version is within 1 standard deviation of the mean value?

[Hint: what probability distribution should be used, and what are the associated mean and

standard deviation?]

(c) The store currently has 7 smart phones of each version. What is the probability that all of

the next 10 customers who want this smart phone can get the version they prefer from the

current stock? [Hint: what is the value range for # of customers who want the "plus-size"

given the restricted stock?]

(d) The store is retailing the regular-size smart phone for $400 and the "plus-size" one for$600,

and the store has 20 smart phones for each version in stock. What is the expected revenue

from the purchases of the next 3 customers?

Image transcription text

l. (8 points) A particular We of smart phone comes in a regular-size version and a "plus-size" version, 60% of all customers prefer the "plus-size" version. (a) Among 10 randomly selected customers who want this type of smart phone, what is the probability that at feast eight want the "plus-size" version? (b) Among 10 randomly selected customers, what is the probability that the number of customers who want the "plus-size&quot; version is within 1 standard deviation of the mean value? [Hint what probabiiigt distribution shouid be used, and what are the associated mean and standard deviation?] (c) The store currently has &quot;i smart phones of each version. What is the probability that all of the next 10 customers who want this smart phone can get the version they prefer from the current stock? [Hint what is the vaiue rangefor it of customers who want the &quot;pins-size&quot; given the restricted stock?] (d) The store is retailing the regular-size smart phone for $400 and the "plus-size&quot; one for$600, and the store has 20 smart phones for each version in stock. What is the expected revenue from the purchases of the next 3 customers?

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