a. is considered“ borderline.” b. is considered“ good” and resides in an urban location. c. is suburban, given that customer is considered“ poor.”( Points: 18)
3.( TCO B) Historically, 70 % of your customers at Rodale Emporium pay for their purchases using credit cards. In a sample of 20 customers, find the probability that
a. exactly 14 customers will pay for their purchases using credit cards. b. at least 10 customers will pay for their purchases using credit cards.
4.( TCO B) The demand for gasoline at a local service station is normally distributed with a mean of 27,009 gallons per day and a standard deviation of 4,530 gallons per day.
a. Find the probability that the demand for gasoline exceeds 22,000 gallons for a given day.
c. How many gallons of gasoline should be on hand at the beginning of each day so that we can meet the demand 90 % of the time( i. e., the station stands a 10 % chance of running out of gasoline for that day)?( Points: 18)
5.( TCO C) An operations analyst from an airline company has been asked to develop a fairly accurate estimate of the mean refueling and baggage handling time at a foreign airport. A random sample of 36 refueling and baggage handling times yields the following results.
Sample Size = 36 Sample Mean = 24.2 minutes Sample Standard Deviation = 4.2 minutes
a. Compute the 90 % confidence interval for the population mean refueling and baggage time. b. Interpret this interval.
c. How many refueling and baggage handling times should be sampled so that we may construct a 90 % confidence interval with a sampling error of. 5 minutes for the population mean refueling and baggage time?( Points: 18)