A car manufacturer is concerned about poor customer satisfaction at one of its dealerships. The management decides
Question:
The dealer will be fined if the number of customers who report favorably is between 22 and 26. The dealership will be dissolved if fewer than 22 customers report favorably. It is known that 70% of the dealer's customers report favorably on satisfaction surveys.
a. What is the probability that the dealer will be fined?
b. What is the probability that the dealership will be dissolved?
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
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Related Book For 
Essentials Of Business Statistics Communicating With Numbers
ISBN: 9780078020544
1st Edition
Authors: Sanjiv Jaggia, Alison Kelly
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