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 September 27th, 2013, 02:59 PM #1 Newbie   Joined: May 2013 Posts: 6 Thanks: 0 Binomial distribution So, this is what I have to calculate. If average 30% of 2100 visitors are buying ice cream and if an ice cream costs $100 calculate probability to earn at least$60 000 (more or equal to 60 000). My assumption: we have binomial distribution with parameters B(2100, 0.3), n=2100, p = 0.3 and q = 1-p = 0.7. If I put those values in formula for described distribution its too much complicated to calculate it. I was thinking about approximation with normal distribution and this is what I got so far: n*p = 630 sqrt(n*p*q) = 21 P = 1-P(X<=600) = 1- phi(2827), and I'm stuck here. I'll be happy to see your ideas. Thank you September 28th, 2013, 01:16 PM #2 Global Moderator   Joined: May 2007 Posts: 6,823 Thanks: 723 Re: Binomial distribution 600 is (10/7)x(standard deviation) < mean. Look up table of standard normal distribution to get the probability for < -10/7. Tags binomial, distribution Thread Tools Show Printable Version Email this Page Display Modes Linear Mode Switch to Hybrid Mode Switch to Threaded Mode Similar Threads Thread Thread Starter Forum Replies Last Post r-soy Probability and Statistics 2 November 16th, 2013 04:05 AM luke93 Advanced Statistics 3 March 20th, 2013 12:35 PM biosavart Probability and Statistics 4 December 10th, 2010 10:17 PM wulfgarpro Probability and Statistics 2 June 8th, 2010 01:21 AM latkan Advanced Statistics 1 May 11th, 2009 05:49 AM

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