SherryCummins SherryCummins

26-01-2024
Mathematics

Answered

A department store will place a sale item in a special display for a one-day sale. Previous experience suggests that 53 percent of all customers who pass such a special display will purchase the item. If 2,214 customers will pass the display on the day of the sale, and if a one-item-per-customer limit is placed on the sale item, how many units of the sale item should the store stock in order to have at most a 1 percent chance of running short of the item on the day of the sale? Assume here that customers make independent purchase decisions

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