MBS Direct believes that only 85% of our registered students will stay registere

Question

MBS Direct believes that only 85% of our registered students will

stay registered in a class long enough to purchase the required textbook.

Let's pick on our STAT 200 students.

According to the Registrar's Office, we have 600 students enrolled in STAT 200

this spring 2014. Suppose you are the CEO of MBS Direct, and you want to perform a probability analysis.

What would be the number of STAT 200 textbook bundles you would order so that you stay below 5% probability of having to back order from Pearson Custom Publishing?

Explanation / Answer

In this problem we have n = 600 students and p = 0.85. Using "qbinom(0.05,600,0.85)", we get the required answer is 495.

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