7. Calculate the selling price of a $350 camera with a 35% mark-up sale price.
1 answer:
You might be interested in
Answer:
P(X=0)=0.000008
P(X=1)=0.00176
P(X=2)=0.057624
P(X=3)=0.941192
Step-by-step explanation:
Probability of correct classification = p = 0.98
Probability of incorrect classification = q = 1 - p = 0.02
The probability of success and failure is the same for all the trials. The trials are independent of each other and the number of trials is fixed i.e. n = 3.
This satisfies all the conditions of a Binomial Experiment. So we can use Binomial experiment to model the probability mass function.
The general formula of a binomial probability is:
Here x denote the number of successes, which can be {0, 1, 2, 3}. So we need to evaluate the above equation for each value of x to determine the probability Mass function of X, as shown below: