Find the probability that exactly 64 of the 100 customers

Assignment Help Business Economics
Reference no: EM132195656

A fast food chain store conducted a taste survey before marketing a new hamburger. The results of the survey showed that 70% of the people who tried this hamburger liked it. Encouraged by this result, the company decided to market the new hamburger. Assume that 70% of all people like this hamburger. On a certain day, 100 customers bought this hamburger.

Find the probability that exactly 64 of the 100 customers will like this hamburger

Reference no: EM132195656

Questions Cloud

Experiencing as result of decrease in customer demand : Decided that downsizing is the solution to the recent financial struggles that the company is experiencing as a result of a decrease in customer demand.
Performing an analysis of firm external environment : Legal factors must be considered when performing an analysis of a firm’s external environment.
What is the appropriate hypothesis test to use : What is the appropriate hypothesis test to use for this analysis: one-sample z-test for the population proportion, one-sample t-test for population proportion
Write a 1000 words essay on determinants of working capital : Write a 1000 words essay on Determinants of Working capital.
Find the probability that exactly 64 of the 100 customers : Find the probability that exactly 64 of the 100 customers will like this hamburger
What is competitor analysis and comparison to industry : What is a competitor analysis and comparison to industry averages of Facebook?
Explain the ways in which the findings might be used : In a 1000-1,250 word essay, summarize the study, explain the ways in which the findings might be used in nursing practice, and address ethical considerations.
What is the probability that the company will not pay : What is the probability that the company will not pay anything next year against Darren's policy?
Statement for leadership gap in healthcare : How to develop a thesis statement for leadership gap in healthcare?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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