For Parts A through C, express your answer in a number between 0 and 1 with five

Question

For Parts A through C, express your answer in a number between 0 and 1 with five digits of precision. (ie. 25.001% as 0.25001). For Part D, express your answer to two decimal places. Big-W is looking to develop a model to stock accessories for the Nintendo Switch. A survey has suggested that 28% of Switch owners purchase a Nintendo-brand microSD card. Suppose Big-W has 8 Switch customers. A) What is the probability that Big-W makes one sale of a Nintendo-branded microSD card? B) Find the probability that Big-W makes more than 6 sales of accessories. C) What is the likelihood that Big-W makes no accessory sales? D) What is the expected value and standard deviation for the number of accessory sales? Expected Value: Standard Deviation

Explanation / Answer

and Here we use binomila distribution with n=8 and p=0.28

1.

P(X=1)=0.26696=26.696% ----------------------------Use =BINOMDIST(1,8,0.25,FALSE) excel function

2.

P(X>6)=1-P(X<=6)

           =1-0.99961

           =0.00038=0.03815%

c. P(X=0)=0.100113

d.

Expected Value =np=8*0.28=2.28

Standard Deviation=sqrt(npq)=1.269

Hope This will be helpful. Thanks and God bless You :-)

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