Question: Why is this solution correct? What does the answer mean in context of the problem? According to the Wall Street Journal, 20% of album sales

Why is this solution correct?

What does the answer mean in context of the problem?

According to the Wall Street Journal, 20% of album sales in 2009 were digital. Consider a random selection of 6 album sales. What is the probability that exactly 2 sales were digital?

Solution:

Parameters of the distribution

Number of trials: n=6

Probability of success: p=0.2

Probability of failure: q=0.8

Let x be the number of successes in 6 trials.

Why is this solution correct?What does the answer mean in context of

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

1 Which of the following is not a characteristic of a binomial experiment? Each trial has only two possible outcomes - a success or a failure. The probability of a success must exceed the probability...

In-Depth integrative Case 2. 1b Disney in Asia After its success with Tokyo Disneyland in the 1980,36,000 jobs. The first phase of the park was to include a Disney began to realize the vast potential...

Confirming Pages C H A P T E R 19 Analyzing Information and Writing Reports Chapter Outline Using Your Time Efficiently Analyzing Data and Information for Reports Identifying the Source of the Data...

Rev.Confirming Pages C H A P T E R 7 Planning, Composing, and Revising Chapter Outline The Ways Good Writers Write Activities in the Composing Process Using Your Time Effectively Brainstorming,...

This text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work's original creator or licensee. 1...

112 100% + BUSINESS PROBLEM SOLVING CASE Can This Bookstore Be Saved? Borders Group (including many former Waldenbooks While publishers fretted that readers would be recon- rebranded as Borders...

Set Student Name: 1. Answer true or false for each part, and if false, explain your answer. a. The point estimate for the population mean, , of an x distribution is x-bar, computed from a random...

Instuctor's Annotated Edition TENTH EDITION Understandable Statistics Concepts and Methods Charles Henry Brase Regis University Corrinne Pellillo Brase Arapahoe Community College Australia Brazil...

1)Financial Reporting - The Procter & Gamble The financial statements of P&G are presented in Appendix B. The companys complete annual report, including the notes to the financial statements, can be...

PROJ6000: Principles of Project Management Assessment Assessment 2 - this is actually a case study and its called a Individual Report: PMBoK versus PRINCE2 or Agile in contemporary projects . so one...

Test the following hypotheses by using the given data. Let = .05. H0: 21 = 22 Ha: 21 22 n1 = 8, n2 = 10, s21 = 46, s22 = 37

What are the differences between the dimensions of quality of design and quality of conformance?

If Eileen, a shareholder, sues in a derivative suit, the judgement will be paid to: Question 6 options: A ) The shareholders as a dividend. B ) Eileen directly. C ) The corporate treasury. D ) The...

A company recently paid a dividend of $4 and is expected to grow at a constant rate of 8%. The beta of its stock is 1.2. Currently, the risk-free rate is 6% and return on the market is 10%. a)...

5-12 The Foremost Composite Materials Company is planning a two-day sales conference for October 1920, starting with a reception on the evening of October 18. The conference consists of all-day...

2. What are the disadvantages of cloud computing? Cloud computing is taking off. The biggest players in the cloud computing marketplace include Amazon Web Services division (AWS), Microsoft, and...

4. Should all firms move toward green computing? Why or why not? Whats too hot to handle? It might very well be your companys data center, which can easily consume more than 100 times more power than...