It is an open secret that airlines overbook flights but we h

It is an open secret that airlines overbook flights, but we have just learned that bookstores underbook (I might have invented this new term.) textbooks in the good old days that we had to purchase textbooks.
    To make a long story short, once upon a time, our UMUC designated virtual bookstore, MBS Direct, routinely, as a matter of business practice, orders less textbooks than the amount requested by UMUC\'s Registrar\'s Office. That is what I have figured out....... Simply put, MBS Direct has to \"eat\" the books if they are not sold. Do you want to eat the books? You may want to cook the books before you eat them! Oops, I hope there is no account major in this class?
    OK, let us cut to the chase..... MBS Direct believes that only 85% of our registered students will stay registered in a class long enough to purchase the required textbook. Let\'s pick on our STAT 200 students. According to the Registrar\'s Office, we have 600 students enrolled in STAT 200 this spring 2014.
11. (10 points) Suppose you are the CEO of MBS Direct, and you want to perform a probability analysis. What would be the number of STAT 200 textbook bundles you would order so that
you stay below 5% probability of having to back-order from Pearson Custom Publishing? (Note: Our Provost would be very angry when she hears that textbook bundles have to be backordered. In any case, we no longer need the service of MBS Direct as we are moving to 100% to free eResources. Auf Wiedersehen, MBS Direct......)

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