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Statistics / Statistical Techniques in Business and Economics 15 / Chapter 6 / Problem 49

Statistical Techniques in Business and Economics | 15th Edition | ISBN: 9780073401805 | Authors: Douglas Lind, William Marchal, Samuel Wathen

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QUESTION:

Recent statistics suggest that 15 percent of those who visit a retail site on the World Wide Web make a purchase. A retailer wished to verify this claim. To do so, she selected a sample of 16 hits to her site and found that 4 had actually made a purchase. a. What is the likelihood of exactly four purchases? b. How many purchases should she expect? c. What is the likelihood that four or more hits result in a purchase?

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QUESTION:

Recent statistics suggest that 15 percent of those who visit a retail site on the World Wide Web make a purchase. A retailer wished to verify this claim. To do so, she selected a sample of 16 hits to her site and found that 4 had actually made a purchase. a. What is the likelihood of exactly four purchases? b. How many purchases should she expect? c. What is the likelihood that four or more hits result in a purchase?

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Probability of a person who visits a retail site on the World Wide Web make a purchase is or

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