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Assuming that half the population are consumers of chocolate, so that the chance of an individual being a consumer is 1/2, and assuming that 100 investigators each take ten individuals to see whether they are consumers, how many investigators would you expect to report that 3 people or less were consumers?

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To solve the problem, we need to determine how many investigators would report that 3 or fewer individuals are consumers of chocolate. We will use the binomial distribution formula for this calculation. ### Step-by-Step Solution: 1. **Define the Parameters**: - Probability of an individual being a consumer of chocolate, \( p = \frac{1}{2} \). - Probability of an individual not being a consumer, \( q = 1 - p = \frac{1}{2} \). - Number of individuals sampled by each investigator, \( n = 10 \). ...
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In china and India, booming middle classes and fast-rising disposable incomes have created a still-under-trapped consume culture. Let's not forget the lessons being learned about the brand-building, power of digital connections and consumer co-creation. Since the advent of the internet, sites that offer social interaction and connectivity have been at the forefront of our digital revolution, reshaping the way consumers expect to interact with each other and, ultimately, with brands. Online tag-sale site e-Bay, for example was one of the first sites to teach us that you can trust people online as well as you might trust a friendly neighbour. That social interaction paved the way for Friendster and MySpace and You Tube, a social networking tool that, in the past year, has empowered consumers to create their own content and post it to a global audience. Anyone who doubts the real market potential of such a platfrom only needs to check out October's biggest business headlines : Google purchased the sire for $ 1.65 billion. HSBC effort attempted a similar goal, to give consumers a forum for conversation. At your pointofview.com, consumers in 76 countries can weigh in and give their opinions on subjects including cloning, fashion, wind farms and video games. Teenagers in Chinese cities surf the web for 5.1 hours a week, and the online ad-market is booming-by more than 75% annually for the past three years, according to Business Week, Mobile phones are among the most coveted pieces of technology. And 17.5 million bloggers (and their 75 million readers), many of whom fall within the coveted 18-25 age groups, are shaping consumer opinions in China with more intensity than they do in the US. The internet age has put advertisers and branding experts face to face with an empowered consumer. And those consumers are happy to listen to our messages, as long as we are willing to listen to them. Which marketing philosophy has been emphasised in the above case ?

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RD SHARMA-BINOMIAL DISTRIBUTION -Solved Examples And Exercises
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  2. Six dice are thrown 729 time. How many times do you expect at least ...

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  3. Assuming that half the population are consumers of chocolate, so that ...

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  4. The probability of a man hitting a target is 1/2. How many times must ...

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  5. An unbaised coin is tossed 8 times. Find , by using binomial distribut...

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  6. The items produced by a company contain 10% defective items. Show that...

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  7. The probability that a bulb produced by a factory will fuse after 1...

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  8. A die is thrown three times. Let X be the number of twos seen. Find th...

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  9. A fair die is tossed twice. If the number appearing on the top is less...

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  10. If a random variable X follows binomial distribution with mean 3 and v...

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  11. If X follows binomial distribution with mean 4 and variance 2, find P...

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  12. Mean and Variance of a binomial variance are 4 and 4/3 respectively th...

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  13. In a binomial distribution the sum and product of the mean and the ...

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  14. A coin is tossed 5 times. What is the probability of getting at least ...

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  15. A man takes a step forward with probability 0.4 and backward with prob...

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  16. In a hurdle race, a player has to cross 10 hurdles. The probability...

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  17. A die is thrown again and again until three sixes are obtained. Fin...

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  18. A lot of 100 watches is known to have 10 defective watches. If 8 watch...

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  19. For 6 trials of an experiment, let X be a binomial variate which satis...

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  20. Find the probability distribution of the number of heads when three co...

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