Johnson has recently opened his workshop at the main street of a major city in the North East. Johnson estimates about 20 cars arriving at his workshop for repairs every day. Based on industry data, he estimates that 40% of the arrivals will agree to have the work repaired at his workshop. His average daily cost at the workshop is $1200. He expects to make a revenue of $200 for each car that is repaired. Johnson would like to know the following information: a) The probability that no car will arrive at his workshop for repair on a given day. b) The probability that he will have at least 4 cars to repair on a given day. c) The expected daily profit assuming that he is able to repair all the arriving cars in a day. d) Develop a probability distribution for this problem.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.8: Probabilities Of Disjoint And Overlapping Events
Problem 2C
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Johnson has recently opened his workshop at the main street of a major city in the North East. Johnson estimates about 20 cars arriving at his workshop for repairs every day. Based on industry data, he estimates that 40% of the arrivals will agree to have the work repaired at his workshop. His average daily cost at the workshop is $1200. He expects to make a revenue of $200 for each car that is repaired. Johnson would like to know the following information:

a) The probability that no car will arrive at his workshop for repair on a given day.

b) The probability that he will have at least 4 cars to repair on a given day.

c) The expected daily profit assuming that he is able to repair all the arriving cars in a day.

d) Develop a probability distribution for this problem.

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