Trevor is interested in purchasing the local hardware/electronic goods store in a small town in South Ohio. After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 60% of the business days it is open. Estimate the probability that the store will gross over $850

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Trevor is interested in purchasing the local hardware/electronic goods store in a small town in South Ohio. After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 60% of the business days it is open. Estimate the probability that the store will gross over $850 at least 6 out of 10 business day

P( at least 6 out of 10 business days ) = 0.6312

Step-by-step explanation:

Given the data in the question;

p = 60% = 0.6

q = 1 - p = 1 - 0.6 = 0.4

Using Binomial distribution;

P( X = r ) =

where

we substitute

P( at leas 6 ) = P(6) + P(7) + P(8) + P(9) + P(10)

= [¹⁰C₆ × 0.6⁶ × 0.4⁴] + [¹⁰C₇ × 0.6⁷ × 0.4³] + [¹⁰C₈ × 0.6⁸ × 0.4²] + [¹⁰C₉ × 0.6⁹ × 0.4¹] + [¹⁰C₁₀ × 0.6¹⁰ × 0.4⁰]

= [0.250] + [0.214] + [0.1209] + [ 0.0403] + [ 0.00604 ]

= 0.6312

Therefore, P( at least 6 out of 10 business days ) = 0.6312

answer: what do you mean

not only in mathematics, scientific proof also are required in the other field of science. also maths proofs are of particular structure, containing steps and logics. so proving is like doing science, it is science. that's why it is important to prove. 

an inaccurate proof leads to errors, or stating results that are not accurate.  which wil mess the probelm up you dont want this