Two of the biggest soft drink rivals, Pepsi and Coke, are very concerned about their market shares. The pie chart that follows claims that PepsiCo's share of the beverage market is 25%. Assume that this proportion will be close to the probability that a person selected at random indicates a preference for a Pepsi product when choosing a soft drink.
A group of n = 500 consumers is selected and the number preferring a Pepsi product is recorded. Use the normal curve to approximate the following binomial probabilities. (Round your answers to four decimal places.)
(a) Exactly 150 consumers prefer a Pepsi product.
(b) Between 110 and 150 consumers (inclusive) prefer a Pepsi product.
(c) Fewer than 150 consumers prefer a Pepsi product.
ANSWERS:
a) 0.0015
b) 0.9411
c) 0.9943
How do I get to these results? Thanks! :)
1 answer
Never mind, figured it out :)
1 answer