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:

Statistical Conclusions

Inferences or deductions made from statistical tests about the data or population parameters.

Critical F Value

A critical value used in the analysis of variance (ANOVA) tests, determining whether to reject the null hypothesis based on the F-distribution.

Degrees of Freedom

The number of independent values in a statistical calculation that are free to vary.

Null Hypothesis

A statement used in statistics that proposes there is no significant difference or effect, serving as the starting point for testing.