Purchase Solution

# Brand Probability is determined.

Not what you're looking for?

A major hat store chain is having a sale on three nationally known brands, A, B and C. Probabilities that Brand A, Brand B or Brand C will not be big sellers are: 0.30, 0.40, and 0.50, respectively. All three brands are manufactured by three independent companies.
Calculate the probability that:

a. None of the brands will be big sellers,
b. Exactly two brands will be big sellers,
c. Exactly one brand will be a big seller,
d. All three brands will be big sellers.

##### Solution Summary

A major hat store chain's probabilities are configured.

##### Solution Preview

All 3 brands will be on sale
<br>For each of the brands, either they will sell or they won't sell.
<br>This is like tossing 3 On Sale coins
<br>But for a normal coin there is 1 chance in 2 of a head and 1 chance in 2 of a tail and the chances of No Sale or a Sale are 0.5:0.5 (50:50)
<br>Here
<br>For Brand A the chances of No Sale or a Sale are 0.3:0.7 (30:70)
<br>For Brand B the chances of No Sale or a Sale are 0.4:0.6 (40:60)
<br>For Brand C the chances of No Sale or a Sale are 0.5:0.5 (40:60)

<br>
<br>a) The probability that none will sell is the probability 3 No ...

##### Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

##### Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

##### Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.