Question

Jankord Jewelers permits the return of their diamond wedding rings, provided the return occurs within two weeks. Typically, 10 percent are returned. If eight rings are sold today, what is the probability that fewer than three will be returned

Answer 1

`P(X<3) =`
`0.9619`

Explanation:

From the given information;

the probability of getting returned p = 0.1

If eight rings are sold today, what is the probability that fewer than three will be returned;

According to binomial distribution

Binomial distribution is the probability of success or failure of an outcome of an experiment under observation which is usually repeated several trials. Binomial experiments are random experiment with fixed number of repeated experiment. If we cannot predict before head, the outcome of an experiment , the experiment is called a random experiment.

So , using binomial distribution to determine the probability that fewer than three will be returned;

i.e

`P(X<3) =`
`\sum_(x=0)^(2)\binom{8}{x}(0.1)^(x)(1-0.1)^(8-x)`

`P(X<3) =`
`0.9619`