Problem #1: Andrea is a sales person at Joe's Bike Shop. 55% of people that come...
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Problem #1: Andrea is a sales person at Joe's Bike Shop. 55% of people that come in the store make a small purchase, such as a bike part or a water bottle. 9% of people make a large purchase, such as a new bike. 36% of people that come in just browse the store. Each day the number of people that enter the store has Poisson distribution with mean 32. Problem #1(a): Problem #1(b): Problem #1(c): Problem #1(d): Problem #1(e): (a) What is the probability that Andrea made 17 small sales and 4 large sales, given that on that day 31 people entered the store. (b) Find the expected number of people that buy something on a day when 33 people entered the store. (c) Find the expected number of people that buy something over a period of 60 days. (d) Find the correlation coeffcient between the number of people who make small purchases and those who make a large one. (e) Find the covariance of the number of people entering the store and the number of people buying something. Just Save answer correct to 4 decimals Submit Problem #1 for Grading Your Mark: 1(a) 1(b) 1(c) answer correct to 4 decimals Problem #1 Attempt #1 Your Answer: 1(a) 1(b) 1(c) 1(d) 1(e) 1(d) 1(e) Attempt #2 1(a) 1(b) 1(c) 1(d) 1(e) 1(a) 1(b) 1(c) 1(d) 1(e) Problem #1: Andrea is a sales person at Joe's Bike Shop. 55% of people that come in the store make a small purchase, such as a bike part or a water bottle. 9% of people make a large purchase, such as a new bike. 36% of people that come in just browse the store. Each day the number of people that enter the store has Poisson distribution with mean 32. Problem #1(a): Problem #1(b): Problem #1(c): Problem #1(d): Problem #1(e): (a) What is the probability that Andrea made 17 small sales and 4 large sales, given that on that day 31 people entered the store. (b) Find the expected number of people that buy something on a day when 33 people entered the store. (c) Find the expected number of people that buy something over a period of 60 days. (d) Find the correlation coeffcient between the number of people who make small purchases and those who make a large one. (e) Find the covariance of the number of people entering the store and the number of people buying something. Just Save answer correct to 4 decimals Submit Problem #1 for Grading Your Mark: 1(a) 1(b) 1(c) answer correct to 4 decimals Problem #1 Attempt #1 Your Answer: 1(a) 1(b) 1(c) 1(d) 1(e) 1(d) 1(e) Attempt #2 1(a) 1(b) 1(c) 1(d) 1(e) 1(a) 1(b) 1(c) 1(d) 1(e)
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a We can use the Poisson distribution to find the probability that Andrea made 17 small sales and 4 large sales given that on that day 31 people entered the store Let X be the number of people who mak... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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