Whole Foods Market has shown steady growth at a time when
1. Whole Foods Market has shown steady growth at a time when traditional supermarkets have been flat. This could be attributed to a growing awareness of and demand for more natural foods. According to a study by Mintel in 2006, 30% of consumers have a high level of concern about the safety of the food they eat. Suppose we want to test this figure to determineconsumers have changed since then. Assuming that the 30% figure still holds, what is the probability of randomly sampling 25 consumers and having 12 or more respond that they have a high level of concern about the safety of the food they eat? What would the expected number be? If a researcher actually got 12 or more out of 25 to respond that they have a high level of concern about the safety of the food they eat, what might this mean? |
2. Suppose that, on average, in a Whole Foods Market in Dallas, 3.4 customers want to check out every minute. Based on this figure, store management wants to staff ?check-out? lines such that less than 1% of the time demand for checkout cannot be met. In this case, store management would have to staff for what number of customers? Based on the 3.4 customer average per minute, what percentage of the time would the store have 12 or more customers who want to check out in any two-minute period? |
3. Suppose a survey is taken of 30 managers of Whole Foods Market stores and it is determined that 17 are at least 40 years old. If another researcher randomly selects 10 of these 30 managers to interview, what is the probability that 3 or fewer are at least 40 years old? Suppose 9 of the 30 surveyed managers are female. What is the probability of randomly selecting 10 managers from the 30 and finding out that 7 of the 10 are female? |
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Solution: Whole Foods Market has shown steady growth at a time when