The Records of a Department Store Show That 20% of Its

question 118

Short Answer

The records of a department store show that 20% of its customers who make a purchase return the merchandise in order to exchange it. In the next six purchases,
a.what is the probability that three customers will return the merchandise for exchange?
b.what is the probability that four customers will return the merchandise for exchange?
c.what is the probability that none of the customers will return the merchandise for exchange?

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Definitions:

Special

Distinguished by a unique or particular quality, different from the norm.

Trust Endorsement

An endorsement that is used when the instrument is being transferred to an agent or trustee for the benefit of either the endorser or a third party; gives the endorser the rights of a holder.

Agent

An individual authorized to act on behalf of another person or entity in business transactions or legal matters.

Special Endorsement

An endorser’s signature accompanying the name of the endorsee.