Thirty percent of all customers who enter a store will make a purchase. Suppose that six customers enter the store and that these customers make independent purchase decisions.
(a) Let x = the number of six customers who will make a purchase. Write the binomial formula for this equation.
(b) Use the binomial formula to calculate:
1. The probability that exactly five customers make a purchase.
2. The probability that at least three customers make a purchase.
3. The probability that two or fewer customers make a purchase.
4. The probability that at least one customer makes a purchase.
The formula is
P(x customers make a purchase) = 6Cx [(0.3)^x][0.7^(6-x)], where 6Cx = 6!/[x!(6-x)!]
b) I will ...
Statistics: Thirty percent of all customers who enter a store will make a purchase.