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 58 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
YES! Correct, THANKS for helping me on my review


chjcharjto14

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

For a complete list of videos, visit our video library