Question

The chances a customer will make a purchase is 60%. then the probability of 5th purchase in 12th customers is

Answer 1

Recognizing Probability Distribution:
a)Poisson Distribution (average)
b)Binomial Distribution (winning 0r Losing)
c)Binomial Distribution (buying or not buying)
d)Normal Distribution (mean and sd)
Answering the various examples of Probability Distributions:
a)P(x > 7) = 1 - poissoncdf(5,7) = .1334 0r 13.34%
b)p(winning) = .55, n = 3, P(x = 1) = binompdf(3, .55,1)= .3341, .3341/(3C1) = .1114, winning on 3rd try
c)p(purchase) = .60, n = 12, P(x=5) = binompdf(12, .60, 5)= .1009/(12C5), 12th customer makes 5th purchase
d)P(22 < x < 28) = nomalcdf(22,28,25,3)
nomalcdf(22,28,25,3)x30days is the number of days