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. Estimate the probability that the store will gross over $850

(a) 3 out of 5 business days.

(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 days. If this actually happened, might it shake your confidence in the statement 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.