d. Find the probability that a customer will purchase 5 nets in a single transac
ID: 3374948 • Letter: D
Question
d. Find the probability that a customer will purchase 5 nets in a single transaction (to take advantage of the volume discount); find the probability that a customer will purchase 8 nets in a single transaction.
Table C4-2: Volume, Frequency, and Charge for Wholesale Nets Sold
Volume Sold
Frequency
Amount Charged
1
20
$3.00
2
38
$6.00
3
53
$9.00
4
45
$12.00
5
40
$14.00
6
13
$16.00
7
5
$18.00
8
36
$20.00
d. Find the probability that a customer will purchase 5 nets in a single transaction (to take advantage of the volume discount); find the probability that a customer will purchase 8 nets in a single transaction.
Table C4-2: Volume, Frequency, and Charge for Wholesale Nets Sold
Volume Sold
Frequency
Amount Charged
1
20
$3.00
2
38
$6.00
3
53
$9.00
4
45
$12.00
5
40
$14.00
6
13
$16.00
7
5
$18.00
8
36
$20.00
Explanation / Answer
Here we have given that data of volume sold, frequency and amount charged.
From the given table,
total frequency = 20 + 38 + 53 + 45 + 40 + 13 + 5 + 36 = 250
Find the probability that a customer will purchase 5 nets in a single transaction.
That is we have to find P(X = 5)
P(X = 5) = frequency for 5 / total frequency = 40 / 250 = 4/25
find the probability that a customer will purchase 8 nets in a single transaction.
That is we have to find P(X = 8).
P(X=8) = frequency for 8 / total frequency = 36 / 250 = 18 / 125
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