Project #40027 - Binomial Statistics Problem

Savemor Pharmacies has the opportunity to purchase a 2,780 customer list from Hubbard Pharmacy.  If 70% or more will make the switch the deal is favorable.  If 60% or less switch the deal is unfavorable.  SaveMor is going to sample 20 of the customers on the list.  If 16 or more of the 20 say they will switch then Savemore will go through with the purchase.  

What is the probability that the sampling plan will provide a result that suggests SaveMor should reject the deal even if the true proportion of all customers who would actually switch is greater than 70%?

Subject Mathematics
Due By (Pacific Time) 09/14/2014 06:00 pm
Report DMCA
TutorRating
pallavi

Chat Now!

out of 1971 reviews
More..
amosmm

Chat Now!

out of 766 reviews
More..
PhyzKyd

Chat Now!

out of 1164 reviews
More..
rajdeep77

Chat Now!

out of 721 reviews
More..
sctys

Chat Now!

out of 1600 reviews
More..
sharadgreen

Chat Now!

out of 770 reviews
More..
topnotcher

Chat Now!

out of 766 reviews
More..
XXXIAO

Chat Now!

out of 680 reviews
More..
All Rights Reserved. Copyright by AceMyHW.com - Copyright Policy