Pioneer Aircraft: Probability of Planes Sold
Pioneer Aircraft Co. sells private, single-engine planes. Most sales are for customers engaged in private and leisure flying. In a 50-week period, sales in the past five years have averaged to the following:
PLANES SOLD WEEKS THIS NUMBER SOLD
1. Determine the probability of each number of planes sold—of 0, 1, 2, 3—in a 50-week period. (Pioneer sales office is closed the other two weeks of the year.)
2. Decide what approach (objective approach, subjective approach, relative frequency approach) is best used to determine probability. Distinguish between the approaches to make it clear that the approach used was the best fit for these airplane sales.
3. Determine if the approach would change if we also needed to track sales of some planes with GPS installed.© SolutionLibrary Inc. solutionlibary.com September 20, 2020, 6:11 pm 9836dcf9d7 https://solutionlibrary.com/business/business-math/pioneer-aircraft-probability-of-planes-sold-j7o9