It Is Estimated That 20% of Luxury Cars Manufactured in 2012

question 7

Essay

It is estimated that 20% of luxury cars manufactured in 2012 were silver. A car
dealership typically sells 20 luxury cars per month.
A. What is the probability that 8 of the luxury cars sold per month are silver?
b. What is the probability that more than 10 of the luxury cars sold per month are silver?
c. How many silver luxury cars would you expect are sold per month?

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Definitions:

Total Contributions

The total sum of money given or invested in a particular context or over a period of time.

Ratio

The relationship between two numbers revealing how many times one can be contained within or contain the other.

Penetrated

Successfully entered or accessed an area or market, often used in business contexts.

Under-Exploited

Resources or opportunities not fully utilized or maximized to their potential benefit.