The owner of a small convenience store is trying to decide whether to discontinue selling magazines. He suspects that only 5% of the customers buy a magazine and thinks that he might be able to sue the display space to sell something more profitable. Before making a final decision, he decides that for one day he’ll keep tracking of the number of customers and whether they buy a magazine.
a.
Assuming the owner is correct in thinking that 5% of the customers purchase magazines, how many customers should he expect before someone buys a magazine?