Increased sales of electric vehicles. According to a report by the World Economic Forum (WEF), 2020 may
Question:
Increased sales of electric vehicles. According to a report by the World Economic Forum (WEF), 2020 may have been a breakthrough year for electric vehicles (EVs). Tax benefits and COVID-19-related discounts led to a global increase in sales of EVs. China continues to lead the world with 52.17% of EVs sold. Consider a random sample of EVs sold globally. Let x represent the number of sampled EVs which were sold in China.
a. Explain why x is approximately a binomial random variable.
b. Use the WEF report to estimate p for the binomial random variable.
c. Consider a random sample of 16 EVs sold. Use p from part b to find the mean and standard deviation of x, the number of EVs in the sample sold in China.
d. For the sample of part c find the probability that at least one EV is sold in China.
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9781292413396
14th Global Edition
Authors: James McClave, P. Benson, Terry Sincich