Question

A brand name has a 40% recognition rate. Assume the owner of the brand wants to...

A brand name has a 40% recognition rate. Assume the owner of the brand wants to verify that rate by beginning with a small sample of 5 randomly selected consumers.

What is the probability that exactly 4 of the 5 consumers recognize the brand?

What is the probability that all of the selected consumers recognize the brand name?

Math   Statistics-And-Probability   
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Answer #1

SOLUTION:

From given data,

A brand name has a 40% recognition rate. Assume the owner of the brand wants to verify that rate by beginning with a small sample of 5 randomly selected consumers.

Use binomial formula:

What is the probability that exactly 4 of the 5 consumers recognize the brand.


What is the probability that all of the selected consumers recognize the brand name?

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