Parameters
Acme plumbing supply just received a shipment of 5,000 stainless steel valves, but 50 regular steel valves were also sent. There is no way to tell the difference between the valves. A customer orders 5 stainless steel valves . What is the probability that one or more will be regular steel? What distribution will be used? What are the parameters? Represent the question as a probability statement? Calculate the probability?
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This is a binomial distribution, which gives the discrete probability distribution of obtaining exactly n successes out of N trials.
<br>The formula is given by: P(n|N)=[N!/n!(N-n)!] p^n (1-p)^(N-n)
<br>Where n is the number of regular valves that ...
Solution Summary
The soltuion addresses Acme plumbing supply just received a shipment of 5,000 stainless steel valves, but 50 regular steel valves were also sent. There is no way to tell the difference between the valves. A customer orders 5 stainless steel valves . What is the probability that one or more will be regular steel? What distribution will be used? What are the parameters? Represent the question as a probability statement? Calculate the probability?