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







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