A Recent Market Study Has Determined That the Probability That

question 54

Multiple Choice

A recent market study has determined that the probability that a young adult would be willing to try a new online financial service that your company is offering is 50%.In a random sample of 10 young adults, the approximate probability that at least 2 but no more than 3 will be willing to try this new service is _________.

• A)0.1575
• B)0.1612
• C)0.1775
• D)0.1812
• E)0.1975

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Definitions:

Manual Calculations

Manual Calculations involve performing mathematical operations by hand without the aid of software or automated tools, often for the purpose of verifying computational accuracy.

Factory Floor

The operational area of a manufacturing plant or facility where goods are produced or assembled.

R-chart

A type of control chart used in quality control processes to monitor the range of variability of a manufacturing process over time.

Uniformity

The consistency or homogeneity of a substance or distribution where all parts are identical or uniformly distributed.