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The company has difficulties in supplying raw materials.
The probability that the company will not be fully supplied with raw materials in each individual month
is equal to 0.2. What is the probability that the company will be fully supplied with raw materials
for no more than 10 months during the year?
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This problem is a binomial distribution with the parameters
n = 12 (the number of trials, equal to the number of months in a year);
k <=10 (the number of success trials);
p = 0.8 = 1 - 0.2 (the probability of individual success); 1-p = 0.2.
The probability is
P = P(0) + P(1) + P(2) + . . . + P(10).
In the standard short form, P = P(n=12, k<=10, p=0.8) = = .
To facilitate my calculations, I used online calculator at this site https://stattrek.com/online-calculator/binomial.aspx
It provides nice instructions and a convenient input and output for all relevant options/cases.
The resulting number is P = 0.7251 (rounded). ANSWER
Solved.
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If you want to see many similar (or different) solved problems, look into the lessons
- Simple and simplest probability problems on Binomial distribution
- Typical binomial distribution probability problems
- How to calculate Binomial probabilities with Technology (using MS Excel)
- Solving problems on Binomial distribution with Technology (using MS Excel)
- Solving problems on Binomial distribution with Technology (using online solver)
in this site.
After reading these lessons, you will be able to solve such problems on your own,
which is your PRIMARY MAJOR GOAL visiting this forum (I believe).