Problem 5: (3 points) Warehouse clubs are retailers that offer lower prices than
ID: 3058973 • Letter: P
Question
Problem 5: (3 points) Warehouse clubs are retailers that offer lower prices than traditional re customers who have quantities. A warehous R, for a low annual fee and an upgraded membership has additional benefits that might include e certain products, or cash back on purchases tailers, but the sell only tU e club may offer more than one type of membership, such as a regular membership, membership, U, for a higher annual fee. The upgraded purchased memberships and often merchandise must be purchased in large xtended shopping hours, additional discounts on A local warehouse club has determined that 20% of its customer base has the upgraded membership ey chosen customer entering the store has an upgn What is the pro membership? a. t is the probability, P/RI, that a randomly chosen customer entering the store has a regular (no upgraded) membership? In an effort to sell more upgraded memberships, sales associates are placed at the entrance to the store to explain the benefits of the upgraded membership to customers as they enter. Suppose that in a given time period sixteen customers enter the store. Assume that each of the 16 customers' memberships type is independent of each of the other customers' membership type. c. What is the probability that twelve or more of these customers currently have a regular What is the probability that exactly three of these customers currently have an upgraded membership? d. Theoreticlly, how many of these customers wouls you expect io have a regular membership? Antwer Answer encouroped to colaborate with your group, use reference materials and refer to class notes to complete this graded assignment. You lp in the Tutoring Center However, the work you submit must be your own handwriting and calculations Page 5Explanation / Answer
Problem 5: (3 points) Warehouse clubs are retailers that offer lower prices than traditional re customers who have quantities. A warehous R, for a low annual fee and an upgraded membership has additional benefits that might include e certain products, or cash back on purchases tailers, but the sell only tU e club may offer more than one type of membership, such as a regular membership, membership, U, for a higher annual fee. The upgraded purchased memberships and often merchandise must be purchased in large xtended shopping hours, additional discounts on A local warehouse club has determined that 20% of its customer base has the upgraded membership ey chosen customer entering the store has an upgn What is the pro membership? a. t is the probability, P/RI, that a randomly chosen customer entering the store has a regular (no upgraded) membership? In an effort to sell more upgraded memberships, sales associates are placed at the entrance to the store to explain the benefits of the upgraded membership to customers as they enter. Suppose that in a given time period sixteen customers enter the store. Assume that each of the 16 customers' memberships type is independent of each of the other customers' membership type. c. What is the probability that twelve or more of these customers currently have a regular What is the probability that exactly three of these customers currently have an upgraded membership? d. Theoreticlly, how many of these customers wouls you expect io have a regular membership? Antwer Answer encouroped to colaborate with your group, use reference materials and refer to class notes to complete this graded assignment. You lp in the Tutoring Center However, the work you submit must be your own handwriting and calculations Page 5