SOLUTION: A telephone soliciting company obtains an average of 5 orders per 100 solicitations. If the company reaches 250 potential customers, find the probability of obtaining at least 2 or
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Question 402722: A telephone soliciting company obtains an average of 5 orders per 100 solicitations. If the company reaches 250 potential customers, find the probability of obtaining at least 2 orders.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A telephone soliciting company obtains an average of 5 orders per 100 solicitations. If the company reaches 250 potential customers, find the probability of obtaining at least 2 orders.
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Binomial Problem with n = 250 and p = 0.05
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P(x>=2) = 1-P(0<=x<=1)
= 1 - binomcdf(250,0.05,1)
===
= 1 - 0.00003819
===
= 0.999962..
Cheers,
Stan H.
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