A car dealer makes $1,000 on each vehicle sold. Assume 30% of customers entering the dealership make
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A car dealer makes $1,000 on each vehicle sold. Assume 30% of customers entering the dealership make a purchase. If 50 customers enter the dealership in a day, can the binomial model be used to estimate the probability that the dealership makes more than $20,000 on this day?
DealerA 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 
Statistics For Business Decision Making And Analysis
ISBN: 9780134497167
3rd Edition
Authors: Robert A. Stine, Dean Foster
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