Question

In: Statistics and Probability

Logan is deciding whether to buy a huge box of comic books at a garage sale....

Logan is deciding whether to buy a huge box of comic books at a garage sale. (For statistical purposes, consider “huge” to mean “infinitely large.”) Before buying the box, Logan will examine 4 randomly selected comic books from the box. If at least 3 of the 4 comic books selected are in good condition, Logan will buy the entire box. If, in reality, 75% of the comic books are in good condition, what is the probability Logan will buy the lot of comic books?

0.625

0.750

0.422

0.738

0.316

Expert Solution

Solution

Given

n=4

p=0.75

Logan will buy entire lot if at least three of 4 comic books are in good condition.

Find

P(Logan will accept a lot) =....?

X = number of comic book in good condition follows binomial distribution with parameters n=4 & p=0.75

And

Thus

Thus correct answer is 0.738

orchestra answered 2 years ago

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