A department store that bills its charge-account cus-tomers once a month has found that if a customer pays promptly one month, the probability is 0.90 that he orshe will also pay promptly the next month; however, if a customer does not pay promptly one month, the prob-ability that he or she will pay promptly the next month is only 0.40. (Assume that the probability of paying or notpaying on any given month depends only on the outcomeof the previous month.)(a) What is the probability that a customer who payspromptly one month will also pay promptly the nextthree months?(b) What is the probability that a customer who does notpay promptly one month will also not pay promptly thenext two months and then make a prompt payment themonth after that?
A department store that bills its charge-account cus-tomers once a month has found that if a customer pays promptly one month, the probability is 0.90 that he orshe will also pay promptly the next month; however, if a customer does not pay promptly one month, the prob-ability that he or she will pay promptly the next month is only 0.40. (Assume that the probability of paying or notpaying on any given month depends only on the outcomeof the previous month.)(a) What is the probability that a customer who payspromptly one month will also pay promptly the nextthree months?(b) What is the probability that a customer who does notpay promptly one month will also not pay promptly thenext two months and then make a prompt payment themonth after that?
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.3: Binomial Probability
Problem 2E: If a binomial experiment has probability p success, then the probability of failure is...
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Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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Question
A department store that bills its charge-account cus-
tomers once a month has found that if a customer pays
tomers once a month has found that if a customer pays
promptly one month, the probability is 0.90 that he or
she will also pay promptly the next month; however, if
she will also pay promptly the next month; however, if
a customer does not pay promptly one month, the prob-
ability that he or she will pay promptly the next month is
ability that he or she will pay promptly the next month is
only 0.40. (Assume that the probability of paying or not
paying on any given month depends only on the outcome
of the previous month.)
(a) What is the probability that a customer who pays
promptly one month will also pay promptly the next
three months?
(b) What is the probability that a customer who does not
pay promptly one month will also not pay promptly the
next two months and then make a prompt payment the
month after that?
paying on any given month depends only on the outcome
of the previous month.)
(a) What is the probability that a customer who pays
promptly one month will also pay promptly the next
three months?
(b) What is the probability that a customer who does not
pay promptly one month will also not pay promptly the
next two months and then make a prompt payment the
month after that?
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