Ftc study to estimate p for the binomial experiment

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Reference no: EM13144764

A Federal Trade Commission study of the pricing accuracy of electronic checkout scanners at store found that one in every 30 items is priced incorrectly. Suppose the FTC randomly selects 5 items at a retail store and checks the accuracy of the scanner price of each. Let x represent the number of the five items that is priced incorrectly.

1.) Use the information in the FTC study to estimate p for the binomial experiment.
2.) What is the probability that exactly one of the five items is priced incorrectly by the scanner?
3.) What is the probability that at least one of the five items is priced incorrectly by the scanner?

Reference no: EM13144764

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