The Owner of a Small Convenience Store Is Trying to Decide

question 37

Essay

The owner of a small convenience store is trying to decide whether to discontinue selling magazines. He suspects that only 5% of the customers buy a magazine and thinks that he might be able to use the display space to sell something more profitable. Before making a final decision he decides that for one day he'll keep track of the number of customers and whether or not they buy a magazine.
-What is the probability that exactly 3 of the first 10 customers buy specialty clothes for their pet? Show work.

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Definitions:

Digital Brand Name

The name or identity of a brand in the digital realm, carefully chosen to reflect its online presence, values, and objectives.

Social Footprint

A social footprint is the measure of the impact an individual or entity has on social media networks, based on the extent and influence of their digital presence.

Lifestream

A digital chronology of a person's life, activities, or interests, shared online through various media platforms.

Social Footprint

The mark or impact an individual or organization has on social media, measured by their activity, reach, and influence across various platforms.