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From past experience, a manager of an upscale shoe store knows that 85% of her customers will use a credit card when making purchases. Suppose three customers are in line to make a purchase. Does this example satisfy the conditions of a Bernoulli process? Construct a probability tree. Using the probability tree, derive the binomial probability distribution.
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DEFINE THE BINOMIAL DISTRIBUTION?
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WRITE DOWN THE EXPECTED VALUE, VARIANCE, AND STANDARD DEVIATION FOR A BINOMIAL RANDOM VARIABLE?
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In the United States, about 30% of adults have four-year college degrees (The Wall Street Journal, April 26, 2012). Suppose five adults are randomly selected. What is the probability that none of the adults has a college degree? What is the probability that no more than two of the adults have a college degree? What is the probability that at least two of the adults have a college degree? Calculate the expected value, the variance, and the standard deviation of this binomial distribution. Graphically depict the probability distribution and comment on its symmetry/skewness.
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In the past decade, the use of technology has skyrocketed, with social media blooming into one of the most valuable methods of communication. People are turning to social media to stay in touch with friends and family members, connect with old friends, catch the news, look for employment, and be entertained. According to a 2016 Pew Research survey, 68% of all U.S. adults are Facebook users. Consider a sample of 100 randomly selected American adults. a. What is the probability that exactly 70 American adults are Facebook users? b. What is the probability that no more than 70 American adults are Facebook users? c. What is the probability that at least 70 American adults are Facebook users?
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WHAT IS A POISSON PROCESS?
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What is Poisson random variable?
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WHAT IS THE POISSON DISTRIBUTION?
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