Hardware Store: Income Trevor is interested in purchasing the local hardware/sporting goods store in
Question: Hardware Store: Income Trevor is interested in purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana. After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 60% of the business days it is open.
(a) Estimate the probability that the store will gross over $850
(b) at least 6 out of 10 business days
c.) fewer than 5 out of 10 business days
d.) fewer than 6 out of the next 20 business days. If this actually happened, might it shake your confidence in the statement p = 0.60? Might you suspect that p is less than 0.60? Explain.
e.) more than 17 out of the next 20 business days. If this actually happened, might you suspect that p is greater than 0.60? Explain.
Deliverables: Word Document
![](/images/msword.png)