Question 1Use the following information to answer the next four questions:Jerry the salesman knows from experience he has a 20% chance of making a sale when calling on a customer. One morning he prepares to make ten calls.On this morning, how many sales does he expect to make?AnswerQuestion 2What is Jerry’s probability of making exactly three sales? (NOTE: Blackboard does not like answers with % signs. So, use decimals to answer probability questions. For example, if the correct answer is 65%, enter .65 in Blackboard.)Answer1 points Question 3What is Jerry’s probability of making four or more sales?Answer1 points Question 4What is the chance Jerry will make at least one sale on this morning?Answer1 points Question 5Use the following information to answer the next five questions:A study at Schnuck’s supermarket revealed that between 4 p.m. and 5 p.m. on weekdays there is an average of one customer for each minute interval at the deli counter.What is the probability that you visit Schnuck’s deli counter at this time and find no customers during a one minute interval?Answer1 points Question 6What is the probability that you visit Schnuck’s deli counter during this time and find four customers during a one minute interval?Answer1 points Question 7What is the probability that you visit Schnuck’s deli counter at this time and find no more than two customers during a five minute interval?Answer1 points Question 8What is the probability that you visit Schnuck’s deli counter at this time and find at least four customer during a five minute interval?Answer1 points Question 9What is the probability that you visit Schnuck’s deli counter at this time and two minutes elapse with no customer visits?Answer1 points Question 10Use the following information to answer the next three questions:The weight of a “40 lb.” bag of Good Growth Landscape Mulch is uniformly distributed over the interval from 38.5 lbs. to 41.5 lbs.What is the probability that a bag will weigh more than 41 pounds?Answer1 points Question 11What is the probability that a bag of landscape mulch will weigh less than 39.5 pounds?Answer1 points Question 12What is the probability that a bag of landscape mulch will weigh between 39 and 40 pounds?Answer1 points Question 13Use the following information to answer the next three questions:Old Main estimates that, in one year, the price of the shares will be at x where x is a random variable which is normally distributed with mean of $20 and a standard deviation of $2. What is the probability that in a year the shares will be selling for more than $20?Answer1 points Question 14What is the probability that in a year the shares of Dollar Department stores will be selling for exactly $20?Answer1 points Question 15What is the probability that in a year the shares of Dollar Department stores will be selling for less than $18?Answer1 points Question 16Use the following information to answer the next six questions:σ = 0.03 ounces.Legally, a can must contain at least 12 ounces of soda. What percentage of cans will contain at least 12 ounces of soda?Answer1 points Question 17What percentage of Pepsi cans will contain less than 11.9 ounces of soda?Answer1 points Question 18What percentage of Pepsi cans will contain between 12 ounces and 12.08 ounces of soda?Answer1 points Question 19One percent of all Pepsi soda cans will weigh more than what amount?Answer1 points Question 20Ten percent of all Pepsi cans will weigh less than what amount?Answer1 points Question 21Pepsi controls the mean weight in a can by a weight setting on the machine filling the cans. For what mean should the machine be set so that only 1 in a 1,000 cans will be underweight (less than 12 ounces)?

An investor wishes to buy a company’s stock. Based on her market research, she has determined that there is a 0.6 probability of making a $20,000 profit, and a 0.4 probability of a $25,000 loss. She computes the expected value to be $2000. Assuming the value is correct, would you advise her to proceed with the investment? In general, what does the expected value tell us about an event? Can we conclude that if she repeats the same investment twice, the mean value of her net gain/loss will again be $2000? What if she repeats the experiment 10 times?

An investor wishes to buy a company’s stock. Based on her market research, she has determined that there is a 0.6 probability of making a $20,000 profit, and a 0.4 probability of a $25,000 loss….