5 1/5 x 2/5 will be longer
The probability that all of the next ten customers who want this racket can get the version they want from current stock is 0.821
<h3>How to solve?</h3>
Given: currently has seven rackets of each version.
Then the probability that the next ten customers get the racket they want is P(3≤X≤7)
<h3>Why P(3≤X≤7)?</h3>
Note that If less than 3 customers want the oversize, then more than 7 want the midsize and someone's going to miss out.
X ~ Binomial (n = 10, p = 0.6)
P(3≤X≤7) = P(X≤7) - P(X≤2)
From Binomial Table:
= 0.8333 - 0.012
= 0.821
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The first discounted price is given through the equation,
discounted price = ($3.45)(1 - 0.20) = $2.76
Then, due to the privilege of being a Coles-Myer discount card holder, another 7.5% discount is given. Such that the final price would be,
final price = ($2.76)(1 - 0.075) = $2.553
The total amount saved up is equal to,
$3.45 - $2.553 = $0.897
