The daily number of kayaks sold, X, at a water sports store has the probability distribution align=center>
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(a) Find the expected number of kayaks sold in a day.
(b) Find the standard deviation of the number of kayaks sold in a day.
(c) Find the probability distribution of the total number of kayaks sold in the next two days. Suppose that the number of sales on different days are independent.
(d) Over the next 64 days, what is the approximate probability that at least 53 kayaks are sold?
(e) How many kayaks should the store order to have approximate probability .95 of meeting the total demand in the next 64 days?
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Statistics Principles And Methods
ISBN: 9780470904114
7th Edition
Authors: Richard A. Johnson, Gouri K. Bhattacharyya
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