Question
The manager of a retail store knows that 40% of the customers who enter the store will purchase one or more items and 60% will leave without making a purchase.what is the probability that in a sample of 10 customers,five will buy one or more items? Here,the population consists of both purchaser and non-purchaser customers.for a sample of 10 customers,find the probability that five will purchase one or more items.How does the sample result look like compared with the population parameter given?
(inferential statistics)
(inferential statistics)
Answers
prob(buy) = .4
prob(not buy) = .6
prob(5 of 10 will buy)
= C(10,5) (.4)^5 (.6)^5
= 252(.000796..)
= appr .2007
prob(not buy) = .6
prob(5 of 10 will buy)
= C(10,5) (.4)^5 (.6)^5
= 252(.000796..)
= appr .2007
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