SOLUTION: A brand name has a 40% recognition rate. Assume the owner of the brand wants to verify that rate by beginning with a small sample of 4 randomly selected consumers. What is the pr

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Question 947500: A brand name has a 40% recognition rate. Assume the owner of the brand wants to verify that rate by beginning with a small sample of 4 randomly selected consumers.
What is the probability that exactly 3 of the 4 consumers recognize the brand name is

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A brand name has a 40% recognition rate. Assume the owner of the brand wants to verify that rate by beginning with a small sample of 4 randomly selected consumers.
What is the probability that exactly 3 of the 4 consumers recognize the brand name
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Binomial Problem with n = 4 and p(recognize) = 0.4
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P(x = 3) = 4C3*0.4^3*0.6 = binompdf(4,0.4,3) = 0.1536
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Cheers,
Stan H.
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