Question: please solve Chapter 6 - Probability Distributions You own and operate a Landscaping business. Over the years, you have kept track of the contracts (jobs)
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Chapter 6 - Probability Distributions You own and operate a Landscaping business. Over the years, you have kept track of the contracts (jobs) you place bids on and the number of successful bids. You figure that you usually get 40% of the jobs you make bids on and fail to get the job 60% of the time. Which method of assigning probability is this. . . Is this a binomial or Poisson probability distribution situation? Why? You currently have eleven bids pending . . . ie. . . you have bid on eleven jobs and the homeowners are deciding whether or not to accept your landscaping bid. If you get at least three of the eleven jobs you can keep your current crew employed for the next 4 months. . . how likely is this/ 1. le. . . What is the probability you will get at least 3 of the jobs? 2. What is the probability of getting 5 of the 11 bids? 3. What is the probability no one will accept your bid from this group of 11? If you get eight or more of the eleven jobs your crew will need to be increased by three workers . . . should you spend time looking for more help now. 4. le. . . How likely is it that you will get eight or more of the jobs you bid
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