What is the probability, Basic Statistics

Assignment Help:

Suppose the entire cola industry produces only two colas viz., Pepsi and Coke.  Given that a person last purchased Pepsi, there is 90% that his next purchase will be Pepsi.  Given that a person last purchased Coke, there is an 80% that the next purchase will be Coke.

i.  If a person is currently a Coke purchaser, what is the probability that two purchases from now he will purchase Pepsi ?

ii. If a person is currently a Pepsi purchaser, what is the probability that from three purchases from now he will purchase Pepsi ?

 

 


Related Discussions:- What is the probability

Probability, A coin was flipped twenty times and landed on heads fifteen ti...

A coin was flipped twenty times and landed on heads fifteen times. If the coin was balanced fair what is the probability of a head on the next toss

Profit and loss accounting, what does it mean by sales less of goods sold a...

what does it mean by sales less of goods sold and cost less of goods sold

Simple random sample, A simple random sample of n = 300 full-time workers i...

A simple random sample of n = 300 full-time workers is selected from a company list containing the names of all n = 5000 full-time workers in order to evaluate job satisfaction. Gi

Allowance for uncollectible , Allowance for uncollectible A contra-asset a...

Allowance for uncollectible A contra-asset assessment consideration used to indicate the part of a / r that is approximated to be uncollectible.

Hypothesis and statistical test, College administrators across the country...

College administrators across the country have become very concerned after noticing an increase in the number of deaths in college students from binge drinking.  Several psychologi

Vital statistics, what are the methods of measuring mortality and fertility...

what are the methods of measuring mortality and fertility rates?

Homework, 9. From 11 positive integer scores on a 10-point quiz, the mean i...

9. From 11 positive integer scores on a 10-point quiz, the mean is 8, the median is 8, and the mode is 7. Find the maximum number of perfect scores possible on this test.

Prepares reports on gasoline prices , The average cost of a gallon of unlea...

The average cost of a gallon of unleaded gasoline in Greater Cincinnati was reported to be $2.41 (The Cincinnati Enquirer, February 3, 2006). During periods of rapidly changing pri

Survival analysis and regression for rates, This assignment counts for 40% ...

This assignment counts for 40% of the total grade for the subject.  There are 100 marks for the assignment.  Including figures and tables, it should be no more than 10 pages. Yo

Draw the roc diagram-equilibrium probability, A. Use the inequality derived...

A. Use the inequality derived for part C question 3; to obtain an inequality required x *CD  = 1 to remain stable against DD invaders. Also draw the ROC diagram discussed in class

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd