John runs a computer-software store. Yesterday he counted 127 people who walked by his store, 58 of
Question:
(a) Estimate the probability that a person who walks by the store will enter the store.
(b) Estimate the probability that a person who walks into the store will buy something.
(c) Estimate the probability that a person who walks by the store will come in and buy something.
(d) Estimate the probability that a person who comes into the store will buy nothing.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
One approach is to make a table showing the information about the 127 people who walked by the store ...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Understanding Basic Statistics
ISBN: 9781111827021
6th Edition
Authors: Charles Henry Brase, Corrinne Pellillo Brase
Question Posted:
Students also viewed these Statistics questions
-
Accounting Today reported that 37% of accountants purchase their computer hardware by mail order direct and that 54% purchase their computer software by mail order direct. Suppose that 97% of the...
-
A computer software company has been looking at the amount of time customers spend on hold after their call is answered by the central switchboard. The company would like to have at most 2% of the...
-
Ralph Butts, manager of Woodland Operations for Intergalactica Papelcos Southeastern Region, had to decide this morning whether to approve the Bodfish Lot logging contract that was sitting on his...
-
5. Did Danone follow the advice regarding JVs in China mentioned in the list just above? Which aspects did it follow and which did it not? Danone's Wrangle with Wahaha In 1996, In 1996, Danone Group...
-
What is the process of asset transformation performed by a financial institution? Why does this process often lead to the creation of interest rate risk? What is interest rate risk?
-
Welte Mutual Funds, Inc., is located in New York City. Welte just obtained $100,000 by converting industrial bonds to cash and is now looking for other investment opportunities for these funds. Based...
-
The instrument that measures the displacement of a vibrating body is called a(n) a. seismometer b. transducer c. accelerometer
-
Error Analysis when the records of Archibald Corporation were reviewed at the close of 2011, the errors listed below was discovered. For each item indicate by a check mark in the appropriate column...
-
Make observations and analyze them - Begin the observation session(s) well in advance of the due date. You will need to make at least two 30- minute observations of your subject. The first...
-
Reconsider the Super Grain Corp. case study as presented in Section 3.1. The advertising firm, Giacomi & Jackowitz, now has suggested a fourth promising advertising medium-radio commercials-to...
-
Betting odds are usually stated against the event happening (against winning). The odds against event W are the ratio In horse racing, the betting odds are based on the probability that the horse...
-
What is the law of large numbers? If you were using the relative frequency of an event to estimate the probability of the event, would it be better to use 100 trials or 500 trials? Explain.
-
Section 3.3.4 states that the Pentium Pro extended each entry in the page table hierarchy to 64 bits but still could only address only 4 GB of memory. Explain how this statement can be true when page...
-
Report on cultural differences using Hofstede's (1980) Intercultural Dimensions model and Hall's (1963) high-context versus low-context culture model. 2. real examples of how to modify communications...
-
you have read about two types of competitive advantage: sustained and temporary. For this forum, find a company that carries both types of advantages and discuss how these contribute to this...
-
In her book Dare to Serve, Cheryl Bachelder states that "it is easy to say that you want to serve others well, but it is much harder to do so in daily life. This topic is seldom discussed out in the...
-
As we begin to examine managerial economics in depth, let's consider the other values that should be considered and how to weigh them. What are the challenges across cultures, generations,...
-
The CEO was disappointed. He'd spent months with his executive team developing a new organizational strategy. He'd spent weeks flying around the country on a road show to communicate the new...
-
The statements of financial position of TT Ltd and UU Ltd as at 31 May 2023 are as follows: The following information is available:(i) TT Ltd acquired 70% of the share capital of UU Ltd on 31 May...
-
Cleaning Service Company's Trial Balance on December 31, 2020 is as follows: Account name Debit Credit Cash 700 Supplies Pre-paid insurance Pre-paid office rent Equipment Accumulated depreciation -...
-
Ruth Jones, a robust 50-year-old insurance adjuster living in the northern suburbs of Chicago, has been diagnosed by a University of Illinois cardiologist as having a defective heart valve. Although...
-
After retiring as a physician, Bob Guthrie became an avid downhill skier on the steep slopes of the Utah Rocky Mountains. As an amateur inventor, Bob was always looking for something new. With the...
-
Raquel Covington is a graduate student majoring in environmental management. In one particular class, Raquel has maintained a low A average throughout the semester, and she needs an A or a high B on...
-
The Step Company has the following Information for the year just ended: Sales in units Budget 15,000 Actual 14,000 Sales $150,000 $147,000 Less: Variable Expenses 90,000 82,600 Contribution Margin $...
-
Question 2 (2 marks) The year level coordinators for Years 7 to 11 at the school are Amy (A), Brian (B), Claire (C), Daisy (D) and Ellie (E). A faulty telephone system means that some of these...
-
On a certain farm alfalfa yields have been 4.3, 7.2, 5.6, and 3.6 tons per acre in the last 4 years. What is the expected value for the farm's alfalfa yield, if each past result is given equal weight...
Study smarter with the SolutionInn App