An increasing number of consumers believe they have to look out for themselves in the marketplace. According
Question:
An increasing number of consumers believe they have to look out for themselves in the marketplace. According to a survey conducted by the Yankelovich Partners for USA WEEKEND magazine, 60% of all consumers have called an information line for a product. Suppose a random sample of 25 consumers is contacted and interviewed about their buying habits.
a. What is the probability that 15 or more of these consumers have called an information line for a product?
b. What is the probability that more than 20 of these consumers have called an information line for a product?
c. What is the probability that fewer than 10 of these consumers have called an information line for a product?
Step by Step Answer:
Business Statistics For Contemporary Decision Making
ISBN: 9781119577621
3rd Canadian Edition
Authors: Ken Black, Ignacio Castillo