Question: Trevor is interested in purchasing the local hardwarefsporting goods store in the small town of Dove Creek, Montana. After examining accounting records for the past

 Trevor is interested in purchasing the local hardwarefsporting goods store in

Trevor is interested in purchasing the local hardwarefsporting goods store in the small town of Dove Creek, Montana. After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about '?0% of the business days it is open. Estimate the probability that the store will gross over $850 for the following. (Round your answers to three decimal places.) (a) at least 3 out of 5 business days (b) at least 5 out of l business days {c} fewer than 5 out of 10 business days [d] fewer than 6 out of the next 20 business days If the outcome described in part (d) actually occurred, might it shake your confidence in the statement p = 0.?0? Might it make you suspect that p is less than (LTD? Eaplain. Yes. This is unlikely to happen if the true value of p is 0.?. Yes. This is likely to happen if the true value of p is 0.?. No. This is unlikely to happen if the true value of p is 0.?0. No. This is likely to happen if the true value of p is 0.31]. [e] more than 1? out of the next 20 business days If the outcome described in part (e) actually occurred, might you suspect that p is greater than 0.?0? Explain. Yes. This is unlikely to happen if the true value of p is [13H]. Yes. This is likely to happen if the true value of p is DEPT). No. This is unlikely to happen if the true value of p is (LTD. No. This is likely to happen if the true value of p is USED

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