The Owner of a Small Convenience Store Is Trying to Decide

question 28

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.
-He had 280 customers that day. Assuming this day was typical for his store, what would be the mean and standard deviation of the number of customers who buy magazines each day?

---

Definitions:

Passive Voice

A grammatical voice in which the subject of the sentence is acted upon by the verb, often used to obscure who is performing the action.

Placing Blame

The act of assigning responsibility for a fault or wrong to a person or group, often in a negative or accusatory manner.

Plain Language

Writing or speech that is clear, straightforward, and easy to understand, without unnecessary jargon or complexity.

Increasing Productivity

The process of enhancing the efficiency of production processes or workers to produce more output per unit of input.