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
The researcher and the respondents do not come in contact with each other if this method of survey is adopted Questionnaires are mailed to the respondents with a request to re

Consider a multiple regression model Y=ß0+ß1X1+ß2X2+µ The sample data yields the following matrices: X’X= { ¦(33&0&0@0&40&0@0&20&60) } Y’X=¦((132&24&92)) ?(y-Y)2 =150 a. what


What is the complete answer and files for this document

For a normal distribution why do we calculate the probability of a range of numbers instead of the probability of a single number?

APPROVING MANAGER An individual within an agency who is responsible for assigning buy card custodians and developing buy card limits within the organization.

AXIOM, usually, it is a saying that is commonly recognized on its own merits; in sense, it is an idea that is not vulnerable of confirmation or disproof; its reality is believed to

comulativefrequencydistribution

This problem set consists of three problems and a short essay.  Each problem is worth 7 points, the essay is worth 4 points for a total of 25 points. 1.  What are the chances th

SkyyMarley Airlines has determined that the price elasticity of demand for two customer segments (Coach and Business Class) is -1.35 and -2.50.  Based on their expectations of prof