uiz: Quiz 5 (Over HW 5) Submit Q is Question: 1 pt 7of16 (7 complete) This Quiz:

Question

uiz: Quiz 5 (Over HW 5) Submit Q is Question: 1 pt 7of16 (7 complete) This Quiz: 16 pts poss A business owner wants to know if it will be profitable to open a new coffee shop in a nearby town. In towns where the shop has been successful, the shop's name is recognizable to people 54% of the time. He surveys a random sample of 12 residents of the town. shop. The probability is (round your answer to 6 decimal places). Interpret this answer. If the business owner hopes the shop will be successfud, which of the following is true? OA. He wants this answer to be as big as possible. If it is big. it means t is less likely no one rec izes the name o the shop, so the shop has a better chance of being successful. O B. e wanks this answer to bo as smallas possible. If t s sal, t eans t is les ikaly noone recognizes tho name of the shop, sothe shop has a better chanco of being successful. He wants this answer to be as small as possible. If it is small, i chance of being successful Hewants this answer to be as big as possible. If it is big, it means it is less likely no one roooonzes the name or the shop, so the being successful. c. OD. in Click to select your answer(s) search 1:28 PM 3/10/2018 ^ DOLL

Explanation / Answer

P(none of them have heard of the coffee shop) = (1 - 0.54)12 = 0.000090

Option-C)   

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