Problem :
A company supplying electrical products, places a rush order for electric wires. Consignments of wires are to be sent immediately when they are available. Previous experience suggests that the probability that a consignment will arrive within a week is 0.8. Assume that two consignments are randomly selected.
(a) Describe the conditions under which this situation would be a binomial experiment.(b) Compute the probabilities associated with: (i) no consignment will arrive within a week. (ii) only one consignment will arrive within a week. (iii) both consignments will arrive within a week. (c) Find the mean and standard deviation resulting from this two trial experiment.
(d) If the probability that a consignment will arrive within one week is now 0.3. What will be the probability values in part (b)?