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November 28, 2014

Homework Help: math

Posted by Andrew on Thursday, November 15, 2012 at 8:32pm.

Therese Felser manages a grocery warehouse which encourages volume shopping on the part of its customers. Therese has discovered that, on any given weekday 70 percent of the customer sales amount to more than $ 100. That is any given sale on such a day has a probability of 0.70 of being for more than $ 100.( Actually the conditional probabilities throughout the day would change slightly, depending on earlier sales, but this effect would be negligible for the first several sales of the day, so we can treat them as independent.) The first two sales on Wednesday are both for more than $ 100. None of the first three sales on Wednesday is for more than $ 100.

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