Question 1 A computer manufacturer has two new brands of laptops which it would like to...

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Question 1 A computer manufacturer has two new brands of laptops which it would like to produce. Because they have limited resources, the computer company can only produce one computer. The marketing department produced the following discrete probability distributions: Sales -$150,000 $200,000 $300,000 $400,000 Sales -$10,000 $300,000 $600,000 $1,000,000 Laptop A Probability of Sales 0.3 0.2 0.2 0.3 Laptop B Probability of Sales 0.10 0.40 0.40 0.10 a. What are the expected sales of each of the new brands of laptops? b. What is the standard deviation of the sales for each of the laptops? c. If both laptops cost the same amount to produce, which brand of laptop do you think the computer company should produce? Explain. Question 1 Thirty percent of all customers who enter the local Ace Hardware store make a purchase. Suppose that six customers enter the store and that these customers make independent purchase decisions. 1. What is the probability that exactly 4 customers will make a purchase? 2. What is the probability that more than 4 customers will make a purchase? 3. What is the probability that less than 3 customers will make a purchase? 4. What is the probability that 4 or fewer customers will make a purchase? 5. What is the probability that at least 1 customers will make a purchase? Question 1 A computer manufacturer has two new brands of laptops which it would like to produce. Because they have limited resources, the computer company can only produce one computer. The marketing department produced the following discrete probability distributions: Sales -$150,000 $200,000 $300,000 $400,000 Sales -$10,000 $300,000 $600,000 $1,000,000 Laptop A Probability of Sales 0.3 0.2 0.2 0.3 Laptop B Probability of Sales 0.10 0.40 0.40 0.10 a. What are the expected sales of each of the new brands of laptops? b. What is the standard deviation of the sales for each of the laptops? c. If both laptops cost the same amount to produce, which brand of laptop do you think the computer company should produce? Explain. Question 1 Thirty percent of all customers who enter the local Ace Hardware store make a purchase. Suppose that six customers enter the store and that these customers make independent purchase decisions. 1. What is the probability that exactly 4 customers will make a purchase? 2. What is the probability that more than 4 customers will make a purchase? 3. What is the probability that less than 3 customers will make a purchase? 4. What is the probability that 4 or fewer customers will make a purchase? 5. What is the probability that at least 1 customers will make a purchase?

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Lets address each question separately Question 1 Laptops a To calculate the expected sales for each brand of laptops we multiply the sales amounts by their respective probabilities and sum them up Exp... View the full answer