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- The owner of Tastee Cookies needs to decide whether to lease a small, medium, or large new retail outlet. She estimates that monthly profits will vary with demand for her cookies as follows: SIZE OFOUTLET DEMAND LOW HIGH Small $ 1,000 1,000 Medium 500 2,500 Large 0 3,000 For what range of probability that demand will be high, will she decide to lease the medium facility?A car salesperson estimates the following probabilities for the number of cars that she will sell in the next week: Number of cars 0 1 2 3 4 5 Probability 0.10 0.20 0.35 0.16 0.12 0.07 a. Find the expected number of cars that will be sold in the week.b. Find the standard deviation of the number of cars hat will be sold in the week. c. The salesperson receives a salary of $250 for the week, plus an additional $300 for each car sold. Find the mean and standard deviation of her total salary for the week. d. What is the probability that the salesperson’s salary for the week will be more than $1,000?A signed a contract with B to buy a machine at a price of $920. Assume that A's value for the machine is $1000. At the time when the contract is signed, B's cost of making the machine is a random variable subject to the following probability distribution. Realized Cost Probability 1200 800 400 0.3 0.5 0.2 What is the efficient probability that the contract is breached?
- The probability distribution for the number of automobiles sold during a day (x) at Bob Iron Motors isas follows. x f(x) 0 0.001 1 0.007 2 0.034 3 0.099 4 0.188 5 6 0.220 7 0.136 8 0.055 9 0.015 10 0.001 17 The probability that 5 automobiles will be sold is,a 0.232b 0.244c 0.257d 0.271Question 21 On the average, the amount of money that a customer spends in the store is $40 with a standard deviation $1O. The probability that the total spending of 4 customers in the store is over $170 is closest to 0.1543 0.3085 0.2376 O 0.4013 not able to calculate1. Suppose the prices of used cars in the market are normally distributed with a mean of $15,000 and a standard deviation of $7,5000. What is the probability of selecting a car from this market and its priced above $20,000.
- QUESTION 5 If probability of “Event A occurs" is 0.6, then probability of "Event A does not occur" is 0.4 0.5 0.6Find the probability of rolling a standard 6-sided die 23 times and getting 10 or more twos. Select an answer Enter a decimal rounded to four places as needed.a) There is small parking lot behind a Floral Shop that has two parking lot spaces. Let X be the number of cars parked in the parking lot at midday. The probability distribution of X is given by x 0 2 3 P(X = x) 0.1 0.25 a 0.35 (i) What is the value of a? (ii) (iii) What is the probability that there will be at most 1 car in the parking lot? Calculate the expected number of cars in the parking lot at midday (iv) Calculate the variance.