Question 252527: Quantitative Analysis for Managerial Application Marks
Question 1: a) The sales Manager of an Automobile dealer estimated 80% of the new cars delivered by them have no defect and so will not be brought back immediately for repair. He sells a fleet of 10 cars to an important customer. What i»the probability that — (i) No car will be brought back (ii) Exactly two cars will be brought back. (iii) At least two cars will be brought back.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Question 1: a) The sales Manager of an Automobile dealer estimated 80% of the new cars delivered by them have no defect and so will not be brought back immediately for repair.
P(not brought back) = 0.8
P(brought back) = 0.2
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He sells a fleet of 10 cars to an important customer.
What is the probability that —
(i) No car will be brought back
P(none of 10) = 0.2^10 = 0.0000001024
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(ii) Exactly two cars will be brought back.
P(2 brought back) = 10C2(0.2)^2(0.8)^8 = 0.3020
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(iii) At least two cars will be brought back.
P(2<= x <= 10) = 1 - binomcdf(10,0.2,1) = 0.6242..
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Cheers,
Stan H.
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