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

#titletime series, importance of time series in statistics

importance of time series in statistics

FIFO, how to figure out cost of good available for sale, cost of sales, end...

how to figure out cost of good available for sale, cost of sales, ending inventory

General linear regression model, find the variance of least square estimato...

find the variance of least square estimator beta hat for general linear regression model when k=2 in matrix form?

Balance of payments and mobility of labor & capital, Balance of Payments, M...

Balance of Payments, Mobility of Labor and Capital, Trade and Wages Balance of Payments 1. Will a country running a trade deficit import or export capital?  Explain. 2.

Optics, A thief is running away in his car with a velocity of 20m/s.A polic...

A thief is running away in his car with a velocity of 20m/s.A police jeep is following him which is sighted by the thief in his rearview mirror, a convex mirror of focal length 10m

Frequency distributions and graphs, What methods did you consider when putt...

What methods did you consider when putting the data into a more useable format

Sampling, Advantages of sampling over population

Advantages of sampling over population

Time series, what are the characteristics

what are the characteristics

Gain bandwidth product, Expertsmind.com  brings you unique solution in  phy...

Expertsmind.com  brings you unique solution in  physics What is Gain bandwidth product (GBW OR GB?)    Refer to the multiple of the open loop gain (continuous for a

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