The probability is 0.7 that a person shopping at a certain store spend less than $20.00. For groups size of 22, find the mean number who spend less than $20.00
Do they tell you the most probable amount spent? There are an infinite number of combinations of mean amount spent and standard deviation that can result in a 70% probability of spending $20 or less. You need one additional bit of information to answer the question.
Does adding the word "WILL" help in answering the questions?
Solve the problem: The probability is 0.7 that a person shopping at a certain store "WILL" spend less than $20.00. For groups size of 22, find the mean number who spend less than $20.00
Yes, adding the word "WILL" in the problem statement does help in answering the question. The word "WILL" implies that we are looking for the number of individuals who will spend less than $20.00, rather than the probability.
To find the mean number of people who will spend less than $20.00, we can use the concept of a binomial distribution. In this case, we have a group size of 22, and the probability that an individual will spend less than $20.00 is given as 0.7.
The mean number of people who will spend less than $20.00 can be calculated by multiplying the group size by the probability.
Mean = Group size * Probability
Mean = 22 * 0.7
Mean = 15.4
Therefore, the mean number of people who will spend less than $20.00 in a group size of 22 is 15.4.