Question

For instance, the 5th column in the first table (for company A) tells us that four products (out of 10) were successful in exactly ONE out of the last 25 years on record. Or, the 10th column in the same table tells us that nine products (out of 10) were successful in exactly THREE out of the last 25 years on record. Or further, the 8th column in the second table (for company B) tells us that seven products (out of 10) were successful in exactly THREE out of the last 25 years on record.

Record of product launch success/failure over the last 25 years: COMPANY A

# of successful products (out of 10) …	0	1	2	3	4	5	6	7	8	9	10
… in # of years out of last 25 years	0	1	0	2	1	3	4	5	5	3	1

Record of product launch success/failure over the last 25 years: COMPANY B

# of successful products (out of 10) …	0	1	2	3	4	5	6	7	8	9	10
… in # of years out of last 25 years	1	2	1	2	3	3	5	3	4	1	0

1. Check the tables above for any errors and ensure the integrity of the records. What check will you run? Why? (1 Point)

Create the discrete probability distribution charts for each of the two companies A & B (4 points)

excel preferred

Answer 1

Probability = # of years corresponding to product / total number of years

we need to check the total of # of years out of last 25 years must be 25 and total of all probabilities equals 1,also all probabilities must be positive.

For company A

The total of # of years out of last 25 years is 25 and total of all probabilities equals 1,also all probabilities are positive ,so above table represent the probability distribution.

Company B

The total of # of years out of last 25 years is 25 and total of all probabilities equals 1,also all probabilities are positive ,so above table represent the probability distribution.