According to hybridcars.com, the market share of hybrid cars in the United States in September 2017 is
Question:
According to hybridcars.com, the market share of hybrid cars in the United States in September 2017 is 2.5%. Consider a random sample of 20 cars in the United States.
a. Use the binomial distribution to determine the probability that there are no hybrid cars from this sample.
b. Use the binomial distribution to determine the probability that there are fewer than two hybrid cars from this sample.
c. Use the Poisson distribution to determine the probability that there are no hybrid cars from this sample.
d. Use the Poisson distribution to determine the probability that there are fewer than two hybrid cars from this sample.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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