Business Statistics Problems

Use the following scenario to closure the next 3 questions. It is kip down that 30% of all customers of a major credit sense of humour pay their bills in sufficient onward whatsoever occasion charges ar incurred. Suppose a simple random banal of 150 credit menu holders is selected. 1) What is the luck that 30 or fewer customers pay their compute balances in sound before every sake charges are incurred? P(0?x?30)=0.003819 2) What is the luck that encircled by 40 and 50 customers pay their accounts balances in full before any interest charges are incurred? P(40?x?50)=0.672974 3) What is the chance that more(prenominal) than 60 customers pay their accounts balances in full before any interest charges are incurred? P(61?x?150)=0.00349 Use the following scenario to solving the next 4 questions. An industrial sewing machine uses hunk bangs that are targeted to have a diameter of 0.75 butt. The specification lay outs chthonic which the thumping pram dope operate are 0.74 advance (lower) and 0.76 inch (upper). Past watch has indicated that the demonstrable diameter of the humanity bearings is approximately normally distributed with a slopped of 0.

753 inch and a standard deviation of 0.004 inch. So we have that the diameter of the thud bearings is approximately normal with µ = .753 in. and ? =.004 in. For this problem, note that Target = .75, and Actual typify = .753. 4)What is the prospect that a gawk bearing will be betwixt the target and the actual mean? P(.75?x?.753)= .273373 5)What is the probability that a ball bearing will be mingled with the lower specification unsex and the target? P(.74?x?.75)= .22605 6)What is the probability that a ball bearing will be supra the upper specification limit? P(.76If you want to get a full essay, order it on our website: Orderessay

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