Question 4 According to an annual survey by Paytronix, around 22% of gift cards are still unused after a full year from purchase. Sounds like free money for businesses, right? It's all in the accounting when gift cards are sold, they are counted as a liability until spent. A local restaurant chain sold 300 twenty-five dollar gift cards. Based on the data they expect that 78% of the cards will be used within a year of the purchase. Use the normal approximation along with the continuity correction factor to find the probability that at most 228 gift cards of 300 sold will be used within a year of purchase. • Let X be the number of gift cards out of 300 sold that will be used within a year from the purchase. Describe the distribution of X and its parameters: X Select an answer (n= Select an answer F T B N X² • Use the random variable notation to symbolically express the probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: Select an answer Select an answer N P(X>228) P(X≤228) P(X2228) P(X<228) • Let Y be a normal variable that will be used to approximate the probability in question. Find the parameters of Y (round the answers to 2 decimal places): Y Select an answer (μ= Select an answer B • Use the correction for continuity: • Use the random variable notation to symbolically express the approximate probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: Select an answer ✓ Select an answer p P(Y>228) P(Y<228) Select an answer Select an answer P(Y>227.5) P(Y<228.5) P(Y<227.5) P(Y>228.5) Find the probability (round the answer to 4 decimal places): σ=
Question 4 According to an annual survey by Paytronix, around 22% of gift cards are still unused after a full year from purchase. Sounds like free money for businesses, right? It's all in the accounting when gift cards are sold, they are counted as a liability until spent. A local restaurant chain sold 300 twenty-five dollar gift cards. Based on the data they expect that 78% of the cards will be used within a year of the purchase. Use the normal approximation along with the continuity correction factor to find the probability that at most 228 gift cards of 300 sold will be used within a year of purchase. • Let X be the number of gift cards out of 300 sold that will be used within a year from the purchase. Describe the distribution of X and its parameters: X Select an answer (n= Select an answer F T B N X² • Use the random variable notation to symbolically express the probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: Select an answer Select an answer N P(X>228) P(X≤228) P(X2228) P(X<228) • Let Y be a normal variable that will be used to approximate the probability in question. Find the parameters of Y (round the answers to 2 decimal places): Y Select an answer (μ= Select an answer B • Use the correction for continuity: • Use the random variable notation to symbolically express the approximate probability that at most 228 gift cards out of 300 sold will be used within a year from the purchase: Select an answer ✓ Select an answer p P(Y>228) P(Y<228) Select an answer Select an answer P(Y>227.5) P(Y<228.5) P(Y<227.5) P(Y>228.5) Find the probability (round the answer to 4 decimal places): σ=
Trigonometry (MindTap Course List)
10th Edition
ISBN:9781337278461
Author:Ron Larson
Publisher:Ron Larson
ChapterP: Prerequisites
SectionP.3: The Cartesian Plane And Graphs Of Equations
Problem 7ECP
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Transcribed Image Text:Question 4
According to an annual survey by Paytronix, around 22% of gift cards are still unused after a full year from
purchase. Sounds like free money for businesses, right? It's all in the accounting - when gift cards are sold,
they are counted as a liability until spent. A local restaurant chain sold 300 twenty-five dollar gift cards.
Based on the data they expect that 78% of the cards will be used within a year of the purchase. Use the
normal approximation along with the continuity correction factor to find the probability that at most 228
gift cards of 300 sold will be used within a year of purchase.
• Let X be the number of gift cards out of 300 sold that will be used within a year from the purchase.
Describe the distribution of X and its parameters:
X Select an answer (n=|
Select an answer
F
T
B
N
X²
• Use the random variable notation to symbolically express the probability that at most 228 gift cards
out of 300 sold will be used within a year from the purchase:
• Let Y be a normal variable that will be used to approximate the probability in question. Find the
parameters of Y (round the answers to 2 decimal places):
Y~ Select an answer (=
Select an answer
x²
Select an answer ✓
Select an answer
P(X>228)
P(X<228)
P(X≥228)
P(X<228)
T
N
• Use the correction for continuity:
P =
Р
• Use the random variable notation to symbolically express the approximate probability that at most
228 gift cards out of 300 sold will be used within a year from the purchase:
Select an answer
Select an answer
P(Y>228)
P(Y<228)
Select an answer ✓
Select an answer
P(Y>227.5)
P(Y<228.5)
P(Y<227.5)
P(Y>228.5)
• Find the probability (round the answer to 4 decimal places):
σ=
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