NEED HELP SOLVING. If you can show me too how it is done on EXCEL specially on \
ID: 3245405 • Letter: N
Question
NEED HELP SOLVING. If you can show me too how it is done on EXCEL specially on "e". THANK YOU!
In a given hour, 30 individuals enter a certain store. Past experience indicates that 30% of all individuals entering the store decide to make a purchase. Based on the relevant binomial distribution, answer the following questions about X, the number of customers entering the store will make a purchase:
a) What is the probability X is exactly 3? -----> My answer : .0072
b) What is the probability that X is no more than 10? My answer------> .7304
c) What is the probability that X is at least 15? -----> My answer ------> .0619
d) Determine the mean and standard deviation of X. My answer ------> Mean = 9 and St. Dev. 2.51
e) What is the probability that X will be within two standard deviations of the mean?
Explanation / Answer
a)
P(X=3) = 30C3 * 0.3^3 * 0.7^27 = 0.0072
b)
P(X<10) = BINOMDIST(10,30,0.3,TRUE) = 0.7304
e)
approximating normal distribution and using emperical rule
95% of data lies within 2 standard deviation
hence probability = 0.95
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