What is the probability, Basic Statistics

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 ?



Posted Date: 2/27/2013 12:50:34 AM | Location : United States

Related Discussions:- What is the probability, Assignment Help, Ask Question on What is the probability, Get Answer, Expert's Help, What is the probability Discussions

Write discussion on What is the probability
Your posts are moderated
Related Questions
Semiannual coupon = 10%*$100/2 = $5 Since it is one-year semiannual bond, it pays two coupons, one at six months from now and the other at maturity when the bank account will be


Mention the characteristics of Statistics. Explain any two applications of Statistics.

Read the article “Apple turns over entire inventory every five days.”1 It is not surprising that, the success of managing inventory can lead to the success of a firm’s operational

Mode Mode, M is the value that has the largest number of occurrence or frequency in a data set, for instance, given the following data:  11 15 16 12 15 19 17 15 we can se

The company acquired 50000 8% preferencd shares (with a par value of R4 each) in cross limited on 30 june 2006 for R180000.

show the differences between histogram and historigram

Cash equivalent Short-term: highly liquid investments that are together [1) readily convertible to known amounts of cash & [2) so close to their maturity that they there insignifi

advantages and disadvantages of integrated economic statistics