Discuss the below:
Q1. The industry standards suggest that 10% of new vehicles require warranty service within the first year. A dealer sold 15 Nissans yesterday. Explain how you got values from table.
a) What is the probability that none of these vehicles requires warranty service?
b) What is the probability that exactly one of these vehicles requires warranty service?
c) Determine the probability that exactly 2 of these vehicles require warranty service.
d) Compute the mean and std. dev. of this probability distribution.
Q2. In a binomial distribution n = 8 and p = .3. Find the probabilities of the following events. Use equation for part a) and in the back of the text for all other computations. Explain how you arrived at each value from the table.
a) x = 2
b) x <= 2
c) x >= 3