a) Grace Floral Shop sells several types of roses for all occasions. It is known that 43% of the roses that is sold by Grace Floral Shop are Eden Roses. 12 roses are ordered to put in a bouquet (i) Define the random variable for this situation and list its values (ii) Stating its parameter(s), what is the probability distribution of this variable? (iii)State the conditions that influence your choice of distribution. (iv)Calculate the probability that at most 2 of the roses were Eden Roses. b) The number of telephone calls coming into Grace Floral Shop to place orders averages 3 per minute. (i) Define the random variable in this situation and list its values. (ii) Stating its parameter(s), what is the probability distribution of this variable? (iii)Compute the probability that 5 calls will arrive per minute. (iv)Compute the probability that 3 or more calls will arrive in a 3-minute interval?
a) Grace Floral Shop sells several types of roses for all occasions. It is known that 43% of the roses that is sold by Grace Floral Shop are Eden Roses. 12 roses are ordered to put in a bouquet (i) Define the random variable for this situation and list its values (ii) Stating its parameter(s), what is the probability distribution of this variable? (iii)State the conditions that influence your choice of distribution. (iv)Calculate the probability that at most 2 of the roses were Eden Roses. b) The number of telephone calls coming into Grace Floral Shop to place orders averages 3 per minute. (i) Define the random variable in this situation and list its values. (ii) Stating its parameter(s), what is the probability distribution of this variable? (iii)Compute the probability that 5 calls will arrive per minute. (iv)Compute the probability that 3 or more calls will arrive in a 3-minute interval?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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