A manager bought 12 pounds of peanuts for $30. He wants to mix $5 per pound cashews with the peanuts to get a batch of mixed nut
1 answer:
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Answer:
The expected number of times is 4.
Step-by-step explanation:
Looking at the question, we see that this follows a geometric distribution because it is asking for the expected number of trials hat will bring about the FIRST SUCCESS. The probability of success is
Since it is a geometric distribution, we know that the expected value of a random variable X, E(X) that follows a geometric distribution is given as:
E(X) = 1/p where p is the probability of success.
Therefore, the expected number of times will be
E(X) = 1/(1/p) = 1/(1/4) = 4.
Hence, the expected number of times is 4.
Answer:
a) 25
b) 49
c) 97
Step-by-step explanation:
The sample size is calculated using the formula, n =
Now,
for 95% confidence level value of z-factor = 1.96
Given:
Mean = $3.94
standard deviation = $0.25
thus,
a) for margin of error = $0.10
n =
or
n =
or
n = 4.9²
or
n = 24.01 ≈ 25 (Rounded off to next integer)
b) for margin of error = $0.07
n =
or
n =
or
n = 7²
or
n = 49
c) for margin of error = $0.05
n =
or
n =
or
n = 9.8²
or
n = 96.04 ≈ 97 (Rounded off to next integer)