SOLUTION: J.D. Power and Associates says that 60% of car buyers now use the Internet for research and price comparisons
a. Find the probability that in a sample of 8 car buyers, all 8 will
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Question 263064: J.D. Power and Associates says that 60% of car buyers now use the Internet for research and price comparisons
a. Find the probability that in a sample of 8 car buyers, all 8 will use the internet
b. At least 5
c. More than 4
d. Find the mean and standard deviation of the probability distribution
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
J.D. Power and Associates says that 60% of car buyers now use the Internet for research and price comparisons
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Binomial Problem with n = 8 ; p = 0.6
a. Find the probability that in a sample of 8 car buyers, all 8 will use the internet
P(x = 8) = (0.6)^8 = 0.0168..
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b. At least 5
P(5 <= x <= 8) = 1 - P(0<= x <=4) = 1-binomcdf(8,0.6,4) = 0.5941..
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c. More than 4
1- 0.5941 = 0.4059..
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d. Find the mean and standard deviation of the probability distribution
mean = np = 8*0.6 = 4.8
std = sqrt(npq) = sqrt(4.8*0.4) = 1.3856..
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Cheers,
Stan H.
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