Find probability that seven packages will arrive on time

Assignment Help Basic Statistics
Reference no: EM131556876

Question: At Express Delivery Service, providing high-quality service to its customers is the top priority of management. The company guarantees a refund of charges if a package it is delivering does not arrive to its destination on time. Despite all efforts, 94% of the packages mailed through the company arrive at their destinations on time. A Corporation mailed seven packages through Express Delivery on Monday.

a) Find the probability that all of the seven packages will arrive on time.

b) Find the probability that exactly two of these seven packages will not arrive on time.

c) Interpret the meaning of your answer to part b

Reference no: EM131556876

Questions Cloud

What is equilibrium expected growth rate : The dividend is expected to grow at some constant rate, g. forever. What is the equilibrium expected growth rate?
What characteristics or qualities are important : What characteristics or qualities are important to you in a partner? Either "must have" or "must not have". Are there any deal-breakers
Regarding foreign exchange rates : Which of the following is INCORRECT regarding foreign exchange rates?
Did you identify any investments in other entities : Did you identify any investments in other entities? If so, are they accounted for under the cost method, the equity method, or consolidation?
Find probability that seven packages will arrive on time : At Express Delivery Service, providing high-quality service to its customers is the top priority of management. The company guarantees a refund of charges.
Describe the hierarchy of the federal court system : Describe the hierarchy of the federal court system of the United States and its subject matter jurisdictions.
Piece of evidence against the efficient market hypothesis : Please list and explain the three forms of market efficiency and describe one piece of evidence against the Efficient Market Hypothesis (EMH)?
What are the journal entries for abc inc on april one : What are the journal entries for ABC, Inc. on April 1, April 30, and May 31? Was the dollar strengthening or weakening over the period of the contract?
Find the present value of an ordinary annuity of payments : Find the present value of an ordinary annuity of 60 payments of $5000 each made quarterly and earning interest at 8%/year compounded quarterly.

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