An office supply store in Newport purchased a printer at a cost of $175 and marked it up 45%. Later on, Oliver bought the printe
1 answer:
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Answer:
a) Poisson distribution
b) 99.33% probability that in any one minute at least one purchase is made
c) 0.05% probability that seven people make a purchase in the next four minutes
Step-by-step explanation:
In a Poisson distribution, the probability that X represents the number of successes of a random variable is given by the following formula:
In which
x is the number of sucesses
e = 2.71828 is the Euler number
is the mean in the given time interval.
5 people per minute check out from their shopping cart and make an online purchase.
This means that
a) What model might you suggest to model the number of purchases per minute?
The only information that we have is the mean number of an event(purchases) in a time interval. Each event is also independent fro each other. So you should suggest the Poisson distribution to model the number of purchases per minute.
b) What is the probability that in any one minute at least one purchase is made?
Either no purchases are made, or at least one is. The sum of the probabilities of these events is 1. So
We want to find
So
In which
1 - 0.0067 = 0.9933.
99.33% probability that in any one minute at least one purchase is made
c) What is the probability that seven people make a purchase in the next four minutes?
The mean is 5 purchases in a minute. So, for 4 minutes
We have to find P(X = 7).
0.05% probability that seven people make a purchase in the next four minutes
Answer:
The percentile that corresponds to an IQ score of 115 is 34.13 %
Step-by-step explanation:
Here, we want to find the percentile that corresponds to an IQ score of 115.
To calculate this percentile, we start with making observations. From the question, we are told that the mean score is 100 while the standard deviation is 15.
Now we want to find the percentile for a score if 115. For a score of 115, we can see that the difference between this score and the mean is 15 which is exactly equal to the standard deviation.
What this means is that the score is within +1 SD of the mean.
For a score of within +1 SD of the mean, the percentile is 34.13%
A score at the mean is the 50th percentile, a score which is 1 SD above or below the mean has a percentile value of 34.13%
Please, I will like you to check the attachment to see how percentiles are valued given the number of standard deviations a particular value is from the mean.
