Question Details

[solution] » Each sheet contains a yellow cell for each answer. You may use

Brief item decscription

Step-by-step solution file

Item details:

Each sheet contains a yellow cell for each answer. You may use

Please see attached Document for questions. These questions have to do with binomial distribution, and I can not figure out where to begin, these are just 2 examples from an assignment and I would like work to be shown on how to begin answering these 2 questions and how to follow through so that I may do the others on my own. All information is provided in the attached document, no data is missing at all. Thank you.

Each sheet contains a yellow cell for each answer.


You may use blank areas in the spreadsheet for intermediate steps.


Put your final answer in the yellow cell. For numeric answers, do no


Instead, enter the formula that yields the answer.


For example:


What is the square root of


What is the square root of













Do not make any changes to this sheet.















3.464 No


3.4641 Yes



mediate steps.


answers, do not "hard code" your answers by typing the answer itself.



wer itself.



Your company produces bicycles and is about to start production of a new model.


Independent lab tests show that there is a 1% chance, over the course of this bike's life, that the brakes will fail.


Your legal team estimates that it will cost your company, on average, $1,000 to settle each complaint of brake failure.



However, if at least 250 people suffer brake failures, plaintiffs' lawyers will be able to file a class-action lawsuit against yo


Your legal team estimates that a class-action lawsuit will cost your company $1 million in addition to the estimated $1,00



Before legal and settlement costs, your company will make an average profit of $75 per bicycle.


How many bikes should your company sell so as to maximize its expected profit (after expected legal and settlement cos



t the brakes will fail.



omplaint of brake failure.



lass-action lawsuit against your company.


dition to the estimated $1,000 per incident settlement.



cted legal and settlement costs)?



Company A prints scratch-off lottery tickets. Because they are instant winner tickets, the printing company knows whic


Company A wraps tickets in "packs" of 1,000 tickets each and then ships the packs to Company B.


Company B then distributes the packs of tickets to retailers throughout the Pittsburgh area.


To help prevent people from rigging the game, Company A tells Company B how many winning tickets are in the shipm


The winning tickets are supposed to be randomly spread throughout the packs.



You work for Company B. Last month, you received a shipment of 1,008 packs of tickets. You know that that shipment c


When the shipment arrived, you divided it into 16 sets of 63 packs each. Each of these 16 packs went to a different reta



You have since discovered that two of the $10,000 grand prize tickets that went out in that shipment ended up at the s


You suspect that someone at Company A told someone at Company B which packs contained the grand prize tickets, an


conspirator arranged for two of the packs containing the winning tickets to be sent to the same retailer.



To test your suspicion, you need to know the probability that a single retailer would have received at least two grand pr



rinting company knows which tickets are winners.



ning tickets are in the shipment, but not which packs contain winning tickets.



ou know that that shipment contained six $10,000 grand prize tickets.


packs went to a different retailer.



shipment ended up at the same retailer.


ed the grand prize tickets, and that the Company B


same retailer.



eceived at least two grand prize tickets.




About this question:

This question was answered on: Feb 21, 2020

PRICE: $24 (18.37 KB)

Buy this answer for only: $24

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card. All your purchases are securely protected by PayPal.

Need a similar solution fast, written anew from scratch? Place your own custom order

We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

Order Now