Statistics Homework Solutions
#159843
Past experience indicates that 30% of all individuals entering a certain store decide to make a purchase.
Past experience indicates that 30% of all individuals entering a certain store decide to make a purchase. Using (i) the binomial distribution and (ii) the normal approximation to the binomial, find that probability that 10 or more of the 30 individuals entering the store in the given hour will decide to make a purchase. Compare the results obtained using the two different approaches. Under what conditions will the normal approximation to this binomial probability become even more accurate?
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Debraj Banerjee, MIT (IP) - 4.8/5
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