Historical Data Indicates That Only 20% of Cable Customers Are

question 104

Multiple Choice

Historical data indicates that only 20% of cable customers are willing to switch companies.If a binomial process is assumed, then in a sample of 20 cable customers, what is the probability that between 2 and 5 (inclusive) customers are willing to switch companies?

• A)0.1369
• B)0.1746
• C)0.0377
• D)0.7350

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Definitions:

Legal Authority

The formal and legitimate power or right given to an entity or individual to make decisions, enact laws, or enforce rules and regulations.

United Nations

An international organization formed in 1945 to increase political and economic cooperation among its member countries.

Power Distance

A cultural dimension that reflects the degree to which less powerful members of a society accept and expect power to be distributed unequally.

Short-Termism

The focus on immediate gains or results at the expense of long-term strategy, sustainability, or investment. Often criticized in business and investment contexts.