Compute probability for the padgett business services

Assignment Help Basic Statistics
Reference no: EM131671013

Question: According to Padgett Business Services, 20% of all smallbusiness owners say the most important advice for starting a business is to prepare for long hours and hard work. Twenty-five percent say the most important advice is to have good financing ready. Nineteen percent say having a good plan is the most important advice; 18% say studying the industry is the most important advice; and 18% list other advice. Suppose 12 small business owners are contacted, and assume that the percentages hold for all small-business owners.

a. What is the probability that none of the owners would say preparing for long hours and hard work is the most important advice?

b. What is the probability that six or more owners would say preparing for long hours and hard work is the most important advice?

c. What is the probability that exactly five owners would say having good financing ready is the most important advice?

d. What is the expected number of owners who would say having a good plan is the most important advice?

Reference no: EM131671013

Questions Cloud

Conduct a pilot run and plan kitchen training for new hires : You have been awarded the contract to set up a new restaurant. Finally, you are ready to conduct a pilot run and plan some Kitchen training for your new hires!
Expected number of workers who have job stress : Suppose a random sample of 10 American workers is selected. What is the probability that more than seven of them say job stress caused frequent health problems?
Examine two benifts for both hardware and software firewalls : Explain whether a home office that has a firewall should be considered secure. Examine why or why not and provide a rationale for your response.
Determine the top five customers by total sales : Using the ExampleSets Products and Transactions in Rapidminer to determine the top 5 customers by total sales.
Compute probability for the padgett business services : According to Padgett Business Services, 20% of all smallbusiness owners say the most important advice for starting a business is to prepare for long hours.
Conduct research for information about electronic evidence : Conduct research using the library and Internet for information about electronic evidence. Explain to your peers what sources can be used to obtain electronic e
Write about the five golden rules of interface design : Analyze each interface you identified in Question one (1) and assess how it adheres to Mandel's five (5) golden rules.
Probability that more than six passengers filed complaints : According to a recent survey, the probability that a passenger files a complaint with the Department of Transportation about a particular U.S. airline.
What advice would you give to next sessions : What advice would you give to next sessions student that will help them be successful?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd