Author Question: The Fitness Shop is considering ordering a special model exercise machine. Each unit will cost the ... (Read 89 times)

BRWH

  • Hero Member
  • *****
  • Posts: 553
The Fitness Shop is considering ordering a special model exercise machine. Each unit will cost the shop 410 and it will sell for 750 . Any units not sold at the regular price will be sold at the year-end model clearance for 340 . Assume that demand follows a normal probability distribution with  = 20 and  = 6 . What is the recommended order quantity?

Question 2

In a binomial experiment the probability of success is 0.06 . What is the probability of two successes in seven trials?
 a. 0.0036
   b. 0.06
  c. 0.0554
   d. 0.28



tdewitt

  • Sr. Member
  • ****
  • Posts: 318
Answer to Question 1

cu = 340, co = 70
P(demand  Q) = .8293
Q = 20 + .95(6) = 25.7 so order 26

Answer to Question 2

c



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

For a complete list of videos, visit our video library