Question

Suppose each time a potential customer visits your website on a weekday there is a 25% chance they purchase something. Every hour you get exactly 20 potential customers visiting your website. Suppose that all website visits are independent. What is the probability that you make 5 or less sales in an hour? What is the expected number of sales from your website in a 10 hour time period? Suppose on weekends the probability a visitor makes a purchase is 0.63 and your site gets 8 visitors per hour. What is the probability that more than 6 individuals per hour make a purchase?

Answer 1

Solutions:-

Suppose that all website visits are independent. What is the probability that you make 5 or less sales in an hour? What is the expected number of sales from your website in a 10 hour time period?

P = 0.25

P(x<=5) = 0.6172

= 1 - BINOM.DIST(4,20,0.65,TRUE)

In 10 hour time expected = 0.25*20*10 = 50

Suppose on weekends the probability a visitor makes a purchase is 0.63 and your site gets 8 visitors per hour. What is the probability that more than 6 individuals per hour make a purchase?

P = 0.63

n = 8

P(x>6) = 0.1414

= 1 - BINOM.DIST(6,8,0.63,TRUE)

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