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probability distributions
Message posted by Jim (via 64.81.88.6) on October 7, 2001 at 4:48 PM (ET)
I would appreciate help with this one. I am having a lot with statistics and need some able assistance. Thanks
A department store has classified its charge customers as either high or low volume purchasers. Thirty percent are high volume purchasers. If a sample of five people are randomly selected from the list of charge customers, what is the probability that none of them are high volume purchasers?
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Re: probability distributions
Message posted by Phil (via 66.32.153.29) on October 7, 2001 at 8:47 PM (ET)
How about a hint or two: This is a simple problem using the binomial distribution (sampling with replacement...the probability of success is a constant for each trial). Define probability of success (p) as being the probability of being a high volume purchaser. Now calculate Prob(x=0).Good luck!
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