SOLUTION: Joe must sell 3 cars this month to meet his qouta. Tonight he has after-dinner appointments with five prospective customers, each of whom happens to be interested in a differant ca

Question 92337: Joe must sell 3 cars this month to meet his qouta. Tonight he has after-dinner appointments with five prospective customers, each of whom happens to be interested in a differant car. If has 30% chance of success with each customer, what is the probability that he will meet his qouta by tomorrow morning? Suppose that three of Joe's customers were interested in the same car, and that they'll go elsewhere if it has already sold. Would it be appropriate to use the binomial distribution under these conditions? Why are Why not?
O.K. I think the last part of the question I have answered, my answer is "The trials are independent , that is the outcome on one trial does not affect the outcome on the other trials.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Joe must sell 3 cars this month to meet his qouta. Tonight he has after-dinner appointments with five prospective customers, each of whom happens to be interested in a differant car. If has 30% chance of success with each customer, what is the probability that he will meet his qouta by tomorrow morning? Suppose that three of Joe's customers were interested in the same car, and that they'll go elsewhere if it has already sold. Would it be appropriate to use the binomial distribution under these conditions? Why are Why not?
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Binomial?--------Yes
n=5 trials ; p=0.3; 3<-x<=5
P(x>=3) = 1 - binomcdf(5,0.3,2) = 0.16508
Comment: "binomcdf" is the function on a TI calculator to find
P(3<=x<=5 successes in 5 trials where p = 0.3)
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Cheers,
Stan H.
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