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Binomial Probability Distributions

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Assume a restaurant business succeeds 60% of the time. Suppose that there are three such restaurants open in your city. When they don't compete with one another, it is reasonable to believe that their relative success would be independent. [Hint:use binomial probability distribution function in Megastat or Phstat]
A) What is the probability that all the three businesses succeed?
B) What is the probability that all the three businesses fail?
C) What is the probability that at least one business succeeds?

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Assume a restaurant business succeeds 60% of the time. Suppose that there are three such restaurants open in your city. When they don't compete with one another, it is reasonable to believe that their relative success would be independent. [Hint:use binomial ...

Solution Summary

Binomial probability distribution is used to determine the probability that all the three businesses succeed.

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Binomial Probability Distribution

Assume a binomial probability distribution has µ=0.60 and n= 200

a. What is the mean and standard deviation?
b. Is this a situation in which binomial probabilities can be approximated by the normal probability distribution? Explain
c. What is the probability of 100 to 110 successes?
d. What is the probability of 130 or more successes?
e. What is the advantage of using the normal probability distribution to approximate the binomial probabilities? Use part (d) to explain the advantage

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