A local car dealership specializes in selling luxury Italian sports cars. Because of the price premium,...

 

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A local car dealership specializes in selling luxury Italian sports cars. Because of the price premium, the dealership only sells a small number of its sports cars each week. Historically, the dealership has never sold more than 4 sports cars in a week. The accompanying frequency distribution shows weekly sales data from the past 52 weeks. Car demand 0 1 2 3 4 Frequency 21 14 10 6 1 a. Use Analysis ToolPak with a seed of 1, to simulate 500 trials based on the empirical probability distribution to estimate the number of cars sold in a week. Based on the 500 trials, what is the average number of cars sold in a week? Note: Round your answer to 4 decimal places. Average number of cars sold in a week b. Based on the 500 observations, what is the probability that the dealership sells more than 3 sports cars in a week? Note: Report the probability in percentage with two decimal places. Probability of selling more than 3 cars in a week % c. Based on the 500 observations, what is the probability that the dealership sells none of its sports cars in a week? Note: Report the probability in percentage with two decimal places. Probability of selling none of its cars in a week % d. Based on the 500 observations, what is the probability that the dealership sells either 2 or 3 sports cars in a week? Note: Report the probability in percentage with two decimal places. Probability of selling either 2 or 3 cars in a week % A local car dealership specializes in selling luxury Italian sports cars. Because of the price premium, the dealership only sells a small number of its sports cars each week. Historically, the dealership has never sold more than 4 sports cars in a week. The accompanying frequency distribution shows weekly sales data from the past 52 weeks. Car demand 0 1 2 3 4 Frequency 21 14 10 6 1 a. Use Analysis ToolPak with a seed of 1, to simulate 500 trials based on the empirical probability distribution to estimate the number of cars sold in a week. Based on the 500 trials, what is the average number of cars sold in a week? Note: Round your answer to 4 decimal places. Average number of cars sold in a week b. Based on the 500 observations, what is the probability that the dealership sells more than 3 sports cars in a week? Note: Report the probability in percentage with two decimal places. Probability of selling more than 3 cars in a week % c. Based on the 500 observations, what is the probability that the dealership sells none of its sports cars in a week? Note: Report the probability in percentage with two decimal places. Probability of selling none of its cars in a week % d. Based on the 500 observations, what is the probability that the dealership sells either 2 or 3 sports cars in a week? Note: Report the probability in percentage with two decimal places. Probability of selling either 2 or 3 cars in a week %

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