Thirty percent of all customers who enter a store will make a purchase. Suppose that six customers enter the store and that these customers make independent purchase decisions. Use the binomial formula to calculate: 1. The probability that at least one customer makes a purchase. 2. What is the Expected Value (mean)

Thirty percent of all customers who enter a store will make a purchase. Suppose that six customers enter the store and that these customers make independent purchase decisions. Use the binomial formula to calculate: 1. The probability that at least one customer makes a purchase. 2. What is the Expected Value (mean)

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter13: Probability And Calculus

Section13.CR: Chapter 13 Review

Problem 10CR

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Question

Thirty percent of all customers who enter a store will make a purchase. Suppose that six customers enter the store and that these customers make independent purchase decisions.

Use the binomial formula to calculate:

1. The probability that at least one customer makes a purchase.

2. What is the Expected Value (mean)

3. What is the Standard Deviation?

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