A business owner decides to use a binomial distribution to solve one of his problems. He knows there is a 60 percent probability that he will sell one of his Red Oak floors to any customer who comes into his shop and views the wood.
Out of the next 7 people who come into his shop, what is the probability that 3 people will buy a Red Oak floor?
What is the probability that more than four people will buy the Red oak floor?© BrainMass Inc. brainmass.com June 3, 2020, 10:10 pm ad1c9bdddf
Binomial distribution for the probability that three people will buy Red Oak floors is determined.