Question: d) (7%) While selecting products to include in the niche section of their weekly newsletter, Ocado has the option to choose between women's and men's

d) (7%) While selecting products to include in
d) (7%) While selecting products to include in the niche section of their weekly newsletter, Ocado has the option to choose between women's and men's bikes: 1. A men's bike, which costs f240 with estimated purchase probability 0.7% across the men on the email list, which involves 7,000 men. 2. A women's bike, which costs f250 with estimated purchase probability 0.3%, across the women on the email list, which involves 15,000 women. What is the probability that each product will achieve revenues greater than their target of f12K for a niche product? Derive the 95% confidence interval for the expected revenues in each case. Which product would you select

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