A small company has either a good day of sales with an average of $50,000 or a bad day with an average of only $10,000 for the day.To simulate these outcomes,random numbers from 00 to 99 should be assigned with the intervals determined from the frequency distribution.If,during the last 50 days,that the vendor had 15 good days and 35 bad days,which of the following is a correct random number interval for a bad day?
A)00 to 49
B)15 to 35
C)30 to 99
D)15 to 99
E)00 to 60

Question

Quizplus · Accepted Answer

Out of the last 50 days, the vendor had 15 good days and 35 bad days. This means that the probability of having a bad day is 35/50 or 0.7. 
To simulate a bad day, we need to assign a random number in the range 00 to 99 with intervals determined by the frequency distribution. 
Since the probability of a bad day is 0.7, we need to allocate 70 out of the 100 possible numbers to the bad day interval. 
The correct random number interval for a bad day is therefore from 30 to 99, since this includes 70 numbers (30 to 99 = 70). 
Therefore, the correct choice is C.

A Small Company Has Either a Good Day of Sales