Historical Data Indicates That Only 20% of Cable Customers Are

question 97

Multiple Choice

Historical data indicates that only 20% of cable customers are willing to switch companies.If a binomial process is assumed,then in a sample of 20 cable customers,what is the probability that no more than 3 customers would be willing to switch their cable?

• A)0.85
• B)0.15
• C)0.20
• D)0.411
• E)0.589

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Definitions:

Master Production Schedule

A plan for individual commodities to be produced in each time period, serving as a link between production planning and manufacturing.

Lot-For-Lot

A lot-sizing technique that generates exactly what is required to meet the plan.

Set Up Cost

Expenses associated with preparing equipment or facilities for a task, such as a production run or a new process.

Holding Cost

The expenses associated with storing inventory, including warehousing, insurance, depreciation, and opportunity costs.