19. The transaction history at an electronic goods store indicates that 21 percent of customers purchase...
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19. The transaction history at an electronic goods store indicates that 21 percent of customers purchase the extended warranty when they buy an eligible item. Suppose customers who buy eligible items are chosen at random, one at a time, until one is found who purchased the extended warranty. Let the random variable X represent the number of customers it takes to find one who purchased the extended warranty. Assume customers' decisions on whether to purchase the extended warranty are independent. Which of the following is closest to the probability that X>3; that is, the probability that it takes more than 3 customers who buy an eligible item to find one who purchased the extended warranty? A. 0.131 B. 0.307 C. 0.390 D. 0.424 E. 0.493 19. The transaction history at an electronic goods store indicates that 21 percent of customers purchase the extended warranty when they buy an eligible item. Suppose customers who buy eligible items are chosen at random, one at a time, until one is found who purchased the extended warranty. Let the random variable X represent the number of customers it takes to find one who purchased the extended warranty. Assume customers' decisions on whether to purchase the extended warranty are independent. Which of the following is closest to the probability that X>3; that is, the probability that it takes more than 3 customers who buy an eligible item to find one who purchased the extended warranty? A. 0.131 B. 0.307 C. 0.390 D. 0.424 E. 0.493
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Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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