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A used car lot has 70 cars for sale..The owner feels that they have a 30% chance of selling a car next week?

What is the probability that they will sell less than 15 and how many cars can they expect to sell?

Public Comments

  1. is a binomial random variable with p=.3 n=70 and x<15 E(X)=.3*70
  2. I wouldn't be to hasty to answer in that way.... Check the wording of the question carefully: "The owner feels that they have a 30% chance of selling a (one) car next week..", not "...any given car next week"... It could well be that the above answer is a result of the interpretation that the person asking the question intended, however the question is a little ambiguous. It could be interpreted very differently..
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