+ Reply to Thread
Results 1 to 5 of 5

Thread: probability question

  1. #1
    Points: 12, Level: 1
    Level completed: 23%, Points required for next Level: 38

    Posts
    3
    Thanks
    0
    Thanked 0 Times in 0 Posts

    probability question




    Hello, I need help with the following problem
    I would appreciate it if you could help me.

    A supermarket sells 4 competitive items a, b, c and d.
    If 300 customers want to buy ,in one day , one of these items,
    Which quantity of each item should be available at the beginning of the day
    So that no more than 1% of the customers will not be able to find the
    Item they are looking for.

    Thanks for your time

  2. #2
    Points: 3,631, Level: 37
    Level completed: 88%, Points required for next Level: 19
    staassis's Avatar
    Location
    New York
    Posts
    226
    Thanks
    2
    Thanked 41 Times in 39 Posts

    Re: probability question

    HINT: there is no probability involved.

  3. #3
    Points: 12, Level: 1
    Level completed: 23%, Points required for next Level: 38

    Posts
    3
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Re: probability question

    Thank you for your reply and your time. Now I'm more confused
    It can't be that simple..

    1% = 3 customers
    So 297 items per category??

    That sounds totaly wrong to me :/

  4. #4
    TS Contributor
    Points: 22,410, Level: 93
    Level completed: 6%, Points required for next Level: 940

    Posts
    3,020
    Thanks
    12
    Thanked 565 Times in 537 Posts

    Re: probability question

    If you have the following assumptions:

    - each customer will buy only 1 item from 1 category
    - each customer is independent to each other
    - you know the probabilities (p_A, p_B, p_C, p_D) that a randomly selected customer will buy category A, B, C and D respectively

    then the demand of the 4 categories

    (A, B, C, D)

    will jointly follows the multinomial distribution

    \text{Multinomial}(300; p_A, p_B, p_C, p_D)

    and your question will be like to determine the minimum supply a, b, c, d

    such that

    \max\{A - a, 0\} + \max\{B - b, 0\} + \max\{C - c, 0\} + \max\{D - d, 0\} \leq 3

    Note this is a random event. So you must state with how much "confidence" you have for this to happen. If you did not state any confidence, we may assume to be 100% and you obtain the answer 297 which does not involve any probability as said by staassis.

  5. #5
    Points: 12, Level: 1
    Level completed: 23%, Points required for next Level: 38

    Posts
    3
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Re: probability question


    oh thank you so much for making that clear to me.. i have spent more than 2 days searching for the way to handle it. i really appreciate your time

+ Reply to Thread

           




Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts






Advertise on Talk Stats