after examining daily receipts over the past year, it was found that the green parrot italian restaurant has been grossing over $2200 a day for about 85% of it's business days. Using this as a reasonably accurate measure, find the proabablity that the green parrot will gross over $2200:
a. at least 5 days in the next 7 business days.
b. at least 5 days in the next 10 business days.
c. less than 3 days in the next 5 business days.
d. less than 7 days in the next 10 business days
e. less that 3 days in the next 7 business days. If this actaully happnened, might it shake your confidence in the statement p= 0.85? Might you suspect that p is less than 0.85? Explain.
2006-08-17 15:10:14 · 3 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
Ok. So this is a binomial distribution problem, where p = 0.85 and q = 0.15.
a.Pr (X ≥ 5) = Pr (X = 5) + Pr (X = 6) + Pr (X = 7) = 0.9262
b.Pr (X ≥ 5) = 0.9986
c.Pr (X ≤ 2) = Pr (X = 0) + Pr (X = 1) + Pr (X = 2) = 0.0266
d.Pr (X ≤ 6) = 1 - Pr (X ≥ 7) = Pr (X = 7) + Pr (X = 8) + Pr (X = 9) + Pr (X = 10) = 1 - 0.05 = 0.95
e. Pr (X ≤ 2) = Pr (X = 0) + Pr (X = 1) + Pr (X = 2) = 0.0012
No, no. This is probability. There might be a probability that in the next few days the gross will be over $2200 consecutively, thus giving the 0.85 chance of over $2200 gross of it business days.
Unfortunately I can't type out, or I do not know how to type out formulae. Contact me if you still have problems.
2006-08-17 16:30:48 · answer #1 · answered by khensthoth4ever 2 · 1⤊ 0⤋
a sounds about right for confidence level less then p=.85
and hopefully more than 7 days in the next 10 business days
2006-08-17 23:03:55 · answer #2 · answered by Edward 7 · 0⤊ 0⤋
I'm not going to do your homework for you.
P.S. Actually, I don't know how. I just wanted to sound sanctimonious.
2006-08-17 22:29:53 · answer #3 · answered by Anonymous · 0⤊ 1⤋