Question: Please help.... Statistics - Binomial Distributions One possible scenario that I can think is event planning.Let's assume over the course of a summer there are
Please help.... Statistics - Binomial Distributions
One possible scenario that I can think is event planning.Let's assume over the course of a summer there are 15 customers that are thinking about using your services.Each possible client could choose option 1, 2 or choose another event planner.With most people choosing option 1.The probably in this scenario would be p=1/3 and as consumer choice is beyond your control, their decision would reflect a independent experiment.
Let X=number of customers who take option 1 and X is a binomial random variable with n=15, and p=0.33. How likely would we have 10 or more customers choosing option 1? How likely would we have less than 8 customers who would choose option 1?
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