In: Finance
27% of consumer prefer to buy grocery Online. Purchasing grocery online follows a binomial distribution pattern. You randomly select 10 consumers. Find the probability that the number of customers who prefer to shop Online for grocery is
Exactly 4
At least 2
Between 1 and 4 inclusive
p | 27.00% |
n | 10 |
hence, using
We can get the following probability distribution:
x | P(x) |
0 | 0.0430 |
1 | 0.1590 |
2 | 0.2646 |
3 | 0.2609 |
4 | 0.1689 |
5 | 0.0750 |
6 | 0.0231 |
7 | 0.0049 |
8 | 0.0007 |
9 | 0.0001 |
10 | 0.0000 |
Hence, using the calculated probability distribution table:
(a)
P(Exactly 4) = 0.1689
(b)
P(Atleast 2) = 0.7981
(c)
P(Between 1 and 4 inclusive) = 0.8533