Question

Levain bakery, on west 74th street in new york city, is trying to determine the number of loaves of raisin bread to make each day. over the past few months the store has baked 50 loaves each day and has sold out with probability 0.80. suppose the owner continues this practice and 30 days are selected at random. fill in the blank. (give your answer to four decimal places.)

Answer 1

From the given information, the sample size is 30 days and the probability is 0.80.

Here, it can be observed that the number of trials is fixed and the probability of success is 0.80. So, apply binomial distribution. The number of trials is fixed and the probability of success is 0.80. So, apply binomial distribution.

 

The mean of the binomial distribution is obtained below:

Mean = np = 30 * 0.8 = 24

The expected number of days on which all 50 loaves will be sold is 24.

The mean value obtained by multiply the sample size (n) and the probability of success (p). That is, the expected number of days on which all 50 loaves will be sold is 24.

 

The expected number of days on which all 50 loaves will be sold is 24.