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BINOMIAL PROBABILITIES Big Box Store (BBS) has an annual rate of 4% of all sales being...

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Statistics

BINOMIAL PROBABILITIES Big Box Store (BBS) has an annual rate of4% of all sales being returned. In a recent sample of thirtyrandomly selected sales the number of returns was five. BBS isconcerned about the event, and your advice is solicited. FOR 4 – 9,OPEN THE EXCEL EXAM TWO FILE. THE SPREADSHEET FOR THIS PROBLEM ISFOUND ON SHEET TWO. COMPLETE AND SAVE YOUR WORK IN EXCEL AND ENTERTHE SOLUTIONS BELOW. (6) (2.5points) What is the probability that arandom sample of 30 sales has 5 or fewer returns? Type the answerand any work below.  

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6 p 004 Probability of a sale beingreturned 4 n 30 sample of 30 sales Let    See Answer
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