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the owner of a small deli is trying to decide whether to discontinue selling magazines. He suspects that only 10.5% of his customers buy a magazine and he thinks that he might be able to use the display space to sell something more profitable. Before making a final decision, he decides that for one day he will keep track of the number of customers that buy a magazine.
Assuming his suspicion that 10.5% of his customers buy a magazine is correct, what is the probability that exactly 4 out of the first 10 customers buy a magazine? give your answer as a decimal number rounded to two digits.
What is the expected number of customers from this sample that will buy a magazine?
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- The following data were taken from the annual reports of Big Bang Inc., a manufacturer of fireworks, and Orange Inc., a manufacturer of computers. Big Bang, Inc. Orange, Inc. Cost of goods sold $830,000 $11,540,000 Inventory, end of year 190,000 320,000 Inventory, beginning of year 240,000 290,000 What is the inventory turnover for Big Bang and Orange. a. Big Bang, Inc.: 3.86Orange, Inc.: 37.84 b. Big Bang, Inc.: 3.86Orange, Inc.: 9.65 c. Big Bang, Inc.: 94.55Orange, Inc.: 37.84 d. Big Bang, Inc.: 94.55Orange, Inc.: 9.65arrow_forward3. Tamir has recently begun a new job of selling custom bracelets! Tamir's sales have been growing every week and now he is looking to analyze his profit. Specifically, Tamir is looking to find how much his cost of goods is for his business of selling bracelets. Luckily, Tamir sells each bracelet for the same price and has recorded that when he sold 4 bracelets he made a $39 profit, when he sold 9 bracelets he made a $94 profit. a. Write an equation in point slope form that could model this scenario. b. Which of the following could be the graph of Tamir's profit? Explain how you know. Graph 1: Graph 2: + +arrow_forwardA grocery store is reevaluating the retail price of their oranges. They have a contract where they can purchase oranges for $0.52 per pound. However, this includes high quality oranges (about 40% of the time), low quality oranges (55%), and occasionally rotten fruit (5%). Suppose they sell 80% of all high quality oranges at $1.99 per pound, 65% of all low quality oranges at $1.49 per pound (they offer a sale), and they cannot sell any of the rotten fruit. What is the store's expected profit from a random shipment of 500 pounds of oranges? We do not consider personnel and other overhead costs, only the wholesale cost of the oranges. (Give your answer as a number, no dollar sign included.)arrow_forward
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