If Ab = 54, find MC.
1 answer:
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Answer:
=BINOMDIST(10,25,70%,FALSE) -BINOMDIST(5,25,70%,FALSE)
0.001324586
Step-by-step explanation:
The success probability is p = 70% = 0.70
The number of trials are n = 25
The Excel formula for the binomial distribution is given by
BINOMDIST(Number_s, Trial_s, Probability_s, Cumulative)
Where
Numbers = 5 and 10
Trials = 25
Probability = 70%
Cumulative = FALSE
The probability of between 5 and 10 customers is then
=BINOMDIST(10,25,70%,FALSE) -BINOMDIST(5,25,70%,FALSE)
0.001324586
Note: FALSE option provides the probability of exactly 10 and 5 where TRUE option gives cumulative results (0 to 5 or 0 to 10) that would be wrong in this case.
