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Trevor is interested in purchasing the local hardware sporting goods store in the small town of Dove Creek Montana After examining accounting records for the past several years he found that the store has been grossing over 850 per day about 65 of the business days it is open Estimate the probability that the store will gross over 850 for the following Round your answers to three decimal places USE SALT a at least 3 out of 5 business days b at least 6 out of 10 business days X c fewer than 5 out of 10 business days X d fewer than 6 out of the next 20 business days x You may have computed the probability of two tails of the distribution Consider which area of the distribution is appropriate If the outcome described in part d actually occurred might it shake your confidence in the statement p 0 65 Might it make you suspect that p is less than 0 65 Explain Yes This is unlikely to happen if the true value of p is 0 65 Yes This is likely to happen if the true value of p is 0 65 No This is unlikely to happen if the true value of p is 0 65 No This is likely to happen if the true value of p is 0 65 e more than 17 out of the next 20 business days If the outcome described in part e actually occurred might you suspect that p is greater than 0 65 Explain Yes This is unlikely to happen if the true value of p is 0 65 Yes This is likely to happen if the true value of p is 0 65 No This is unlikely to happen if the true value of p is 0 65 No This is likely to happen if the true value of p is 0 65

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