A website randomly selects 10 products to discount each day. You have your eye on a fancy electric scooter.
if the product is not discounted for the next five days, what is the probability that it is first discounted 15 days from now?
A website randomly selects 10 products to discount each day. You have your eye on a...
Suppose that 8% of products on a production line are defective. An inspector randomly selects these products one at a time until he finds a defective product. There are two parts to this problem. a. What is the probability that at least 12 products must be inspected in order to find the first defective product? Start this part of the problem by stating what X is in words and giving its complete distribution (i.e., write "X = ____" and "X...
(CO 3) You are selling your product at a three-day event. Each day, there is a 60% chance that you will make money. What is the probability that you will make money on the first day and lose money on the next two days? 0.096 0.216 0.144 0.288
Let's say you own a website that sells a single product. Your product dashboard has provided the following metrics: The probability that a visitor will convert is .05 (we will assume that conversion is "iid", short for: independent and identically distributed). An average of 45 users visit the site every hour. What is the probability that exactly 2 out of 10 randomly selected visitors will convert? Starting now, what is the probability that you will have to wait more than...
Your company is considering changing terms to offer a discount. The average price of the products you sell is $10.00. You will allow customers who pay with 15 day to continue to pay $10. But those who do not take the discount and take an additional 10 days to pay will pay $10.25 for each product. The average default rate is 3%. The discount rate you will use for this problem is 0.75%. The units sold are expected to increase...
Problem #1 Your company is considering changing terms to offer a discount. The average price of the products you sell is $10.00. You will allow customers who pay with 15 day to continue to pay $10. But those who do not take the discount and take an additional 10 days to pay will pay $10.25 for each product. The average default rate is 3%. The discount rate you will use for this problem is 0.75%. The units sold are expected...
2. State yes/no in each part, and explain in a sentence or two (a) You have a box filled with 400 balls, which are colored black or white. You have 200 black and 200 white balls. You randomly select a ball and throw it out (don't put it back in the box). Then yoiu go to randomly select another ball. Is the probability that the second pick is white independent of what the first ball color was? (b) You have...
(CO 3) You are selling your product at a three-day event. Each day, there is a 60% chance that you will make money. What is the probability that you will make money all three days? 0.096 0.216 0.144 0.288
A friend of mine likes to eat peanut M&M’s. Each morning he randomly selects a number of Peanut M&M’s between 1 and 12 to eat during the day from a bag which originally contained 100 Peanut M&M’s.(Hint: Looks like a randi(12) might be used here!). The question is on what day will my friend have to open a new bag of M&M’s for his daily habit. That means that if on day t the last M&Ms are eaten, then on...
1. A. You normally sell 42 flashlights each day. Your performance cycle is two days. What is your current reorder point? B. Your business has substantially slowed and you now sell 17 flashlights each day. You also changed your supplier and it takes them five days to deliver your order. Now what is your reorder point?
You are selling your product at a three-day event. Each day, there is a 60% chance that you will make money. What is the probability that you will make money on the first day and lose money on the second day, and make money on the third? 0.288 0.144 0.216 0.096