The retail chain from the previous exercise decides to follow up its first ad with a second
Question:
The retail chain from the previous exercise decides to follow up its first ad with a second one, again to 15 million Facebook users. This time it gives away a $1 online credit for every user who likes the ad. Now, assume the probability is 0.0005 that a user will like it.
a. Find the mean and standard deviation for the number of likes this second ad will receive.
b. Find the interval for the possible number of likes that covers almost all possible values, using the normal approximation.
c. How much money would you advise the retail company to set aside for covering these $1 online credits? Why?
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a b Almost all values will fall within 3 standard deviations of t...View the full answer
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Related Book For 
Statistics The Art And Science Of Learning From Data
ISBN: 9780321997838
4th Edition
Authors: Alan Agresti, Christine A. Franklin, Bernhard Klingenberg
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