Julie designs gardens for a living. For a year she kept track of the amount of time she spent designing the garden and whether o
r not the customer returned. She recorded the time and probability that a customer returned.
To have the greatest probability of a returning customer, what amount of time should Julie spend per customer?
TIME DESIGNING PROBABILITY OF RETURN
1-2 Hours 5/8
2-3 Hours 5/9
3-4 Hours 7/8
4-5 Hours 3/4
5-6 Hours 1/2
6-7 Hours 3/7
7-8 Hours 2/9
A. 1-2 Hours
B. 2-3 Hours
C. 3-4 Hours
D. 4-5 Hours
To have the greatest probability of a returning customer, what amount of time should Julie spend per customer?
TIME DESIGNING PROBABILITY OF RETURN
1-2 Hours 5/8
2-3 Hours 5/9
3-4 Hours 7/8
4-5 Hours 3/4
5-6 Hours 1/2
6-7 Hours 3/7
7-8 Hours 2/9
A. 1-2 Hours
B. 2-3 Hours
C. 3-4 Hours
D. 4-5 Hours
2 answers:
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Answer:
Let X be the event of feeling secure after saving $50,000,
Given,
The probability of feeling secure after saving $50,000, p = 40 % = 0.4,
So, the probability of not feeling secure after saving $50,000, q = 1 - p = 0.6,
Since, the binomial distribution formula,
Where,
If 8 households choose randomly,
That is, n = 8
(a) the probability of the number that say they would feel secure is exactly 5
(b) the probability of the number that say they would feel secure is more than five
(c) the probability of the number that say they would feel secure is at most five