Question:

# The Wall Street Journal reported that approximately 25 of

Last updated: 1/27/2024

The Wall Street Journal reported that approximately 25 of the people who are told a product is improved will believe that it is in fact improved The remaining 75 believe that this is just hype the same old thing with no real improvement Suppose a marketing study consists of a random sample of eleven people who are given a sales talk about a new improved product USE SALT a Make a histogram showing the probability that r 0 to 11 people believe the product is in fact improved 0 25 0 30 0 25 0 20 P r P r 0 20 0 0 15 0 10 0 05 0 00 0 6 0 5 0 4 0 3 0 2 0 1 0 0 20 MLA 0 1 2 3 4 5 6 7 8 9 10 11 r 0 1 2 3 4 5 6 7 8 9 10 11 r people people P r P r 0 15 0 10 0 05 0 00 0 25 0 20 0 15 0 10 0 05 0 00 0 1 2 3 4 5 6 7 8 9 10 11 T 0 1 2 3 4 5 6 7 8 9 10 11 b Compute the mean and standard deviation of this probability distribution Round your standard deviation to two decimal places H T c What is the smallest number of people needed in the marketing study to be at least 99 sure that at least one person believes the product to be improved Hint Note that P r 1 0 99 is equivalent to 1 P 0 0 99 or P 0 0 01 people