SOLUTION: In a large group of invoices, 30% had a value greater than £50. A random sample of 3 invoices was taken determine the probability that:
i) Exactly 2 had an invoice value greater
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-> SOLUTION: In a large group of invoices, 30% had a value greater than £50. A random sample of 3 invoices was taken determine the probability that:
i) Exactly 2 had an invoice value greater
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Question 821363: In a large group of invoices, 30% had a value greater than £50. A random sample of 3 invoices was taken determine the probability that:
i) Exactly 2 had an invoice value greater than £50.
Thank you in advance! Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! In a large group of invoices, 30% had a value greater than £50. A random sample of 3 invoices was taken determine the probability that:
i) Exactly 2 had an invoice value greater than £50.
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Binomial Problem with n = 3 and p(greater) = 0.30
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P(x = 2) = 3C2(0.3)^2(0.7) = 3*0.09*0.7 = 0.1890
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Cheers,
Stan H.
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