Given the following Binomial Probablity Distribution for sales of goods answer t

Question

Given the following Binomial Probablity Distribution for sales of goods answer the questions below Binomial Distribution Data 15 Erter Sanple Size ( Sample size (n) Probability of an event of interest Enter Probability of 0.5 Statistics Corrouted Values Mean Variance Standard deviation 3.75 1.9365 Binomial Probabilities Table xP(X) Cummulative Percentage 0 3E-05 10.0005 2 0.0032 3 0.0139 40.0417 5 0.0916 6 0.1527 7 0.1964 8 0.1964 9 0.1527 10 0.0916 11 0.0417 12 0.0139 13 0.0032 14 0.0005 3.05176E-05 0.000488281 0.003692627 0.017578125 0.059234619 0.150878906 0.303619385 0.5 0.696380615 0.849121094 0.940765381 0.982421875 0.996307373 0.999511719 0.999969482 15 3E-05 What is the Mean and Variance? a. b. c. There are exactly 4 sales? There are at least 5 sales? d. There are between 4 and 8 sales? e. There are less than or equal to 10 sales?

Explanation / Answer

A)Mean =7.5

Variance =3.75

B)probability that there are exactly 4 sales =0.0417

C)probability that there are atleast 5 sales = 1 - probability that there is atmost 4 sales.

=1-0.0592 =0.9408

D)probability that there is between 4 and 8 sales = probability that there is atmost 8 sales -probability that there is at most 3 sales.

=0.6964-0.0176 =0.6788

E) there is less than and equal to 10 sales (atmost 10) =0.9408

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