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Business Statistics, 3rd Edition
book

Business Statistics, 3rd Edition

by Naval Bajpai
April 2024
Intermediate to advanced content levelIntermediate to advanced
921 pages
37h 16m
English
Pearson India
Content preview from Business Statistics, 3rd Edition
Chapter 6
212
Example 6.1
Consider a fair coin tossing experiment. What is the probability of getting two heads in three trials?
Solution: As discussed above,
The probability of x success in n trials = P(x) =
n
nx x
pq
xnx
!
()!( )!
Probability of getting two head in three trials =
3
322
05 05
23
2
!
!!()()
(.)(.)
=
××
××
321
2111
05 05
2
()()
(.)(
.)
=
6
2
02505(. )(
.)
= 0.375
So, the probability of getting two heads in three trials is 0.375.
6.4.2 Using MS Excel for Binomial Probability Computation in Example 6.1
In Example 6.1, computation was very simple and could be done manually very easily. In a few
cases, like computing the probability of getting 140 ...
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Publisher Resources

ISBN: 9789390168996