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Posts: 240
2 weeks ago
Luxury cars According to infoplease, 18.8% of the luxury cars manufactured in 2003 were silver. A large car dealership typically sells 50 luxury cars a month.

a. Explain why you think that the luxury car sales can be considered Bernoulli trials.
b. What is the probability that the fifth luxury car sold is the first silver one?
c. Let X represent the number of silver luxury cars sold in a typical month. What is the probability model for X? Specify the model (name and parameters), and tell the mean and standard deviation.
Textbook 

Stats: Modeling the World


Edition: 4th
Authors:
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wrote...
Posts: 257
2 weeks ago
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a. Bernoulli trials have only two possible outcomes (success = silver; failure = other than silver), trials are not independent, since the population is finite, but the 10% condition is satisfied (50 cars are less than 10% of all luxury cars sold in the country), and the probability of success stays constant on every trial (assuming the buyers at this dealership are representative of buyers nationwide).
b. P(fifth car is first silver car) = (0.812)4(0.188) = 0.0817
c. The model is a Binomial with parameters n = 50 and p = 0.188.
The mean is and the standard deviation is
1

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2 weeks ago
Exactly what I needed for my project, TYSM
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