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Author Question: What is the probability that more than seven people arrive at the bike repair shop in a one hour ... (Read 27 times)

lidoalex

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on: Jun 24, 2018
What is the probability that more than seven people arrive at the bike repair shop in a one hour period of time?
 
  What will be an ideal response?

Question 2

If the interest rate remains below 5, what is the probability that the corporation's return is at least 8?
 
  What will be an ideal response?


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KKcool

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Reply #1 on: Jun 24, 2018
Answer to Question 1

P(X > 7 ) = 1 - P(X  7 ) = 1 - 0.867 = 0.133

Answer to Question 2

(0.15 + 0.16 + 0.17 + 0.05 ) / 1 - (0.16 + 0.07 + 0.01 ) = 0.53 / 0.76 = 0.697


lidoalex

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

sailorcrescent

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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