Posted: June 9th, 2015

Return Rates of Electronics

Return Rates of Electronics

Paper details:
Return Rates of Electronics
Purpose
To assess your ability to:
Determine the probability distribution of a binomial random variable.
Apply binomial probabilities to a real situation.
Find and interpret the mean and standard deviation of a binomial random variable.
Overview
Binomial probability distributions are one of the basic examples of discrete probability distributions and they allow us to deal with circumstances in which there are two outcomes. In this assignment you will be asked to use binomial distribution to answer some business questions. You will also write and explain a scenario that is related to your work and that uses binomial random variable.
Action Items
Download and print out the worksheet Return Rate of Electronics.
Read the questions and type your answers on a Word document. If you use your calculator to get the answers, include the calculator comments in your answer. If you use Excel to find the answers, include the Excel formula.
The assignment should be typed on a single Word document with your name on it.