Discuss the following:
Steel Electronics, Inc. sells expensive brands of stereo equipment in several shopping malls throughout the northwest section of the United States. The Marketing Research Department of Steele reports that 30% of the customers entering the store, who indicate they are browsing, will make a purchase in the end. Let the last 20 customers who enter the store be a sample.
a. How many of these customers would you expect to make a purchase?
b. What is the probability that exactly five of these customers make a purchase?
c. What is the probability ten or more make a purchase?
d. Does it seem likely at least one will make a purchase?