The most important measure in any business is a successful purchase of their product. Task success is a discrete measure (0 is fail, 1 is successful purchase). The following table shows a discrete distribution across 100 clients for product purchase. Table 3 X (purchase success) 0 1 2 3 P(probability purchase) 0.05 0.2 0.3 0.45 Calculate the expected value for table3? Calculate the discrete variance for table 3? What is the binomial probability that you find less than 10 clients who will buy your extended warranty if you present to 79 clients, and the probability of a client buying a warranty after your presentation is 20%?
The most important measure in any business is a successful purchase of their product. Task success is a discrete measure (0 is fail, 1 is successful purchase). The following table shows a discrete distribution across 100 clients for product purchase.
Table 3
|
X (purchase success) |
0 |
1 |
2 |
3 |
|
P( |
0.05 |
0.2 |
0.3 |
0.45 |
Calculate the
|
Calculate the discrete variance for table 3? |
What is the binomial probability that you find less than 10 clients who will buy your extended warranty if you present to 79 clients, and the probability of a client buying a warranty after your presentation is 20%?
What is the binomial expected value a client buys your extended warranty if the probability is 20% and 79 clients are in the sample?
What is the binomial standard deviation a client buys your extended warranty if the probability of buying is 20% and 79 clients are in the sample?
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