The most important measure in any business is a successful purchase of their product. Task success is
Question:
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 4
X (purchase success) | 0 | 1 | 2 | 3 |
P(probability purchase) | 0.1 | 0.3 | 0.2 | 0.4 |
Calculate theexpected valuefortable4? | |
Calculate the discrete variance for table 4? | |
What is the binomial probability that you find less than 11 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?
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What is the binomial variance whena client buys your extended warranty if the probability of buying is 20% and 79 clients are in the sample? |