A fishing supply store buys fishing rods for $11 and sells them at a markup of 220% One day, they decide to put the rods on sale
1 answer:
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SOLUTION
This is a binomial probability. For i, we will apply the Binomial probability formula
i. Exactly 2 are defective
Using the formula, we have
Note that I made the probability of being defective as the probability of success = p
and probability of none defective as probability of failure = q
Exactly 2 are defective becomes the binomial probability
Hence the answer is 0.1157
(ii) None is defective becomes
hence the answer is 0.4823
(iii) All are defective
(iv) At least one is defective
This is 1 - probability that none is defective
Hence the answer is 0.5177