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anonymous
 4 years ago
The regular retail price of a particular box of a wellknown brand of cereal ranges from $2.80 to $3.25 across the grocery stores in the city. The distribution of the prices follows a uniform distribution. If 12 stores are selected at random and the regular retail price of the cereal is recorded, what is the probability exactly 5 of the stores charge less than $3.00?
anonymous
 4 years ago
The regular retail price of a particular box of a wellknown brand of cereal ranges from $2.80 to $3.25 across the grocery stores in the city. The distribution of the prices follows a uniform distribution. If 12 stores are selected at random and the regular retail price of the cereal is recorded, what is the probability exactly 5 of the stores charge less than $3.00?

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anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0Is this a poisson distribution?

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0i'm not sure on this. @callisto

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0if it uniform all prices are equally likely. so the prob of one store charging less than 3.00 is 20 out 46

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0how did you get that?

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0i did not get it. That is the answer.

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0so now it a bionomial which is very similar to the poission dist. 12C5*(20/46)^5*(26/46)^7

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0http://www.wolframalpha.com/input/?i=%2820%2F46%29%5E5*%2826%2F46%29%5E7*12choose5 according to wolfram is .22267

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0can you do it using the a possion dist?

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0we have to decide what alpha is first

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0the average for the whole population is the same as the unknown small sample ie 12

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0i know that part. but how should we figure out?

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0ahh for example if i said half the shops were less than average.. 12*.5=6 then alpha would be 6 but were dealing with 3.00 so its 20/46 12*(20/46)=5.2173913 so ALPHA is 5.2173913

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0how did you get 20/46?

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0pick a number between 0 and 5 ... there is 6 choices even though 50=5 so with 3.252.80=45cents there is 46 choices now less than $3 is 2.99 to 2.80 2.992.80=20 choices so prob(x<$3)=20/46

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0what uniform is saying is every price has the same prob of occuring P(x=2.80)=P(x=2.81)=....................................=P(x=3.25) so 46 equal likely probs which all add to 1 1/46 is there prob individually

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0so we worked out alpha = 5.2173913 and x=5

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0sub into the possion equation and post your answer

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0this question is tough.

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0http://www.wolframalpha.com/input/?i=5.2173913%5E5*exp%285.2173913%29%2F5%21 this gives the answer as 0.1746633

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0which like we said earlier the possion dist is like bionomial.... in that its an estimate.. the possion dist works better for large numbers
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