SNHU DAT 520 Problem 2 Solution

SNHU DAT 520 Problem 2 Solution



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DAT 520: Decision Methods and Modeling Problem Set 2 Answer
Simple Proportions and Binomials
Binomial Probability Review
The binomial probability formula:
Solving Binomial Problems: Here are the common steps for how to solve these types of problems:

1. Identify how many trials (n) the question is asking for
2. Identify how many successes (k) the question is asking for
3. Determine the probability of a success (p)
4. Formulate the probability of a fail (1-p)
5. Use the binomial equation shown above and your own common sense as a guide

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