Question: GroupFocus, a market research firm based in Indianapolis, has been hired to conduct a focus group that requires ten females aged over 21 years. Past records show that the probability of a female actually showing up is only 0.60.
a) If they recruit 22 females, what is the probability that the number of females who actually show up will be exactly 10?
b) If they recruit 20 females, what is the probability that fewer than ten females will show up?
c) If they recruit 18 females, what is the probability that more than ten females will show up?
d) GroupFocus estimates that the cost to them of each extra female (over 10) showing up is $110 and it costs them $225 per person if the number of females who show up is less than 10. How many volunteers should they recruit to minimize expected costs?
Deliverables: Word Document