Question

In: Finance

27% of consumer prefer to buy grocery Online. Purchasing grocery online follows a binomial distribution pattern.

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

  1. Exactly 4

  2. At least 2

  3. Between 1 and 4 inclusive

Solutions

Expert Solution

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


Related Solutions

Assuming a random variate follows a binomial distribution with x "successes" in n "experiments", and the...
Assuming a random variate follows a binomial distribution with x "successes" in n "experiments", and the probability of a single success in any given experiment being p; compute: (a) Pr(x=2, n=8, p=0.47) (b) Pr(3 < X ≤ 5) when n = 9 and p = 0.6 (c) Pr(X ≤ 3) when n = 9 and p = 0.13 (d) The probability that the number of successes is more than 1 when n = 13 and p = 0.19 (e) The...
Problem Binomial Distribution: A consumer advocate claims that 80 percent of cable television subscribers are not...
Problem Binomial Distribution: A consumer advocate claims that 80 percent of cable television subscribers are not satisfied with their cable service. In an attempt to justify this claim, a randomly selected sample of cable subscribers will be polled on this issue. Suppose that the advocate’s claim is true, and suppose that a random sample of 25 cable subscribers is selected. Assuming independence, find: (2) The probability that more than 20 subscribers in the sample are not satisfied with their service....
Use the Online Consumer Purchasing Model (Figure 6.11 below) to assess the effectiveness of an e-mail...
Use the Online Consumer Purchasing Model (Figure 6.11 below) to assess the effectiveness of an e-mail campaign at a small Web site devoted to the sales of apparel to the ages 18–26 young adult market in the United States. Assume a marketing campaign of 100,000 e-mails (at 25 cents per e-mail address). The expected click-through rate is 5%, the customer conversion rate is 10%, and the loyal customer retention rate is 25%. The average sale is $60, and the profit...
Suppose that the monthly demand for a consumer good follows a normal distribution with a deviation...
Suppose that the monthly demand for a consumer good follows a normal distribution with a deviation of 94 kg. We know that the probability of monthly demand is below 502 kg. is 0.12. Find the mean of the distribution.
Let X denote a random variable that follows a binomial distribution with parameters n=5, p=0.3
Let X denote a random variable that follows a binomial distribution with parameters n=5, p=0.3, and Y denote a random variable that has a Poisson distribution with parameter λ = 6. Additionally, assume that X and Y are independent random variables. (a) What are the possible values for (X, Y ) pairs. (b) Derive the joint probability distribution function for X and Y. Make sure to explain your steps. (c) Using the joint pdf function of X and Y, form...
Let X denote a random variable that follows a binomial distribution with parameters n=5, p=0.3, and...
Let X denote a random variable that follows a binomial distribution with parameters n=5, p=0.3, and Y denote a random variable that has a Poisson distribution with parameter λ = 6. Additionally, assume that X and Y are independent random variables. What are the possible values for (X, Y ) pairs. Derive the joint probability distribution function for X and Y. Make sure to explain your steps. Using the joint pdf function of X and Y, form the summation /integration...
Let X denote a random variable that follows a binomial distribution with parameters n=5, p=0.3, and...
Let X denote a random variable that follows a binomial distribution with parameters n=5, p=0.3, and Y denote a random variable that has a Poisson distribution with parameter λ = 6. Additionally, assume that X and Y are independent random variables. What are the possible values for (X, Y ) pairs. Derive the joint probability distribution function for X and Y. Make sure to explain your steps. Using the joint pdf function of X and Y, form the summation /integration...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT