This topic contains a solution. Click here to go to the answer

Author Question: The binomial distribution is widely used in business applications. Why do you think this is the ... (Read 50 times)

Mr. Wonderful

  • Hero Member
  • *****
  • Posts: 866
The binomial distribution is widely used in business applications. Why do you think this is the case?
 
  What will be an ideal response?

Question 2

Are there gender differences in response to the commercial?
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

IAPPLET

  • Sr. Member
  • ****
  • Posts: 333
Answer to Question 1

The conditions necessary for applying the binomial distribution are not as restrictive as they may seem. The situation of repeated independent trials with only two possible outcomes occurs quite frequently: sales calls achieve the sale or not, investments are profitable or not, productions achieve quotas or not, etc. Further, a number of situations, which might have a range of outcomes can be classified into two categories-made into categorical variables-and, can thus also be represented by the binomial distribution.

Answer to Question 2

The conditional probabilities for men may be found by dividing the response frequencies in the men row by the total number of men, 100. For women, divide the frequencies by the total number of women, 150. The results are shown in the following two-way table.

Incorrect Favorable Unfavorable
Men 0.42 0.38 0.20
Women 0.42 0.38 0.20

The response probabilities are exactly the same for each gender. Therefore there are no gender differences at all in the responses.




Mr. Wonderful

  • Member
  • Posts: 866
Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it


sultana.d

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

For a complete list of videos, visit our video library