Estimate the product/quotation of the problem below 724÷87
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Using the binomial distribution, it is found that the probability that exactly 36 of them buy a product is of 0.044.
For each first-time visitor, there are only two possible outcomes, either they buy a product, or they do not. The probability of a first-time visitor buying a product is independent of any other first-time visitor, hence the binomial distribution is used to solve this question.
<h3>What is the binomial distribution formula?</h3>The formula is:
The parameters are:
- x is the number of successes.
- n is the number of trials.
- p is the probability of a success on a single trial.
In this problem:
- 45% of first-time visitors to its website do not buy any of its products, hence 55% buy, that is, p = 0.55.
- There are 75 first-time visitors on a given day, hence n = 75.
The probability that exactly 36 of them buy a product is P(X = 36), hence:
More can be learned about the binomial distribution at brainly.com/question/24863377