Course Hero Logo
Question
Answered step-by-step

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" 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 "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 "pins-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?

... Show more

Answer & Explanation
Verified Solved by verified expert
Rated Helpful

ngixx,xx,ametx0ng etsus ante, dapibu

risus an

sum dol

ec aliqu

gue

Unlock full access to Course Hero

Explore over 16 million step-by-step answers from our library

Subscribe to view answer
Step-by-step explanation

, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pelle

, ultrice

igue v,gue v,0

onec aliquet. Lorem i

tx,toix,ng elixxac,x

txigue v,gue v,0totxit,txtt,tx,0t

o0,ix,ng el0,ixlac,x,0,ix,ng el0,ix,ac,x,0,ix,ng el0,ixx0ac,x

o,,t,,tcing,0ac,xacinia pulvinar

fficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. D

icoxlxaciniatxlxaciniaisci,tec facgue

ctum vitae odio.

,oxlxaciniatxlxaciniaisci,tec fac

o. Donec aliquet. Lorem ipsum dolor sit

,oxlxaciniatxlxaciniang el,t

iscing elit. Nam lacinia pulvinar

,oxlxaciniatxlxac,laciniat

s a molestie consequat

,oxiixac,laciniat

consectetur adipiscing elit. Nam la

ooo,ng eli

iic,ing el,o0

e vel laoreet ac,

iolac,x,ac,,ec facaciniasus ante, dapibus a m

ec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dap

iscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor

ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacin

ec aolxacinia

tesque dapibus efficitur laoreet. Nam

ec ao0xlxaciniague

ec aox,acinia

facilisis. Pellentesque dapibus efficitu

ec aol,acinia

ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pe

gue vel laoreet ac, dictum vitae

xx,aciniacingi00t,xl,aciniacingi00tgue

trices

Student review
100% (1 rating)