SOLUTION: A business owner decides to use a binomial distribution to solve one of his problems. He knows there is a 60 percent probability that he will sell one of his Red Oak floors to any

Question 133479: A business owner decides to use a binomial distribution to solve one of his problems. He knows there is a 60 percent probability that he will sell one of his Red Oak floors to any customer who comes into his shop and views the wood. Out of the next 7 people who come into his shop, what is the probability that 3 people will buy a Red Oak floor? ___________ What is the probability that more than four people will buy the Red oak floor? ___________
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A business owner decides to use a binomial distribution to solve one of his problems. He knows there is a 60 percent probability that he will sell one of his Red Oak floors to any customer who comes into his shop and views the wood.
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Out of the next 7 people who come into his shop, what is the probability that 3 people will buy a Red Oak floor?
binompdf(7,0.6,3) = 0.193536...
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___________ What is the probability that more than four people will buy the Red oak floor?
1-binomcdf(7,0.6,4) = 0.4199
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Cheers,
Stan H.
___________
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