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“A random variable is a function or rule that assigns a numerical value to each outcome in the samples space of a random experiment” (Doane & Seward, 2022). A discrete random variable can be counted and may have an upper limit. It must be a whole number. A continuous random variable is usually measured. It can be any value between a defined upper and lower limit.
What are the four characteristics of binomial experiment?
The number of observations n is fixed.
Each observation is independent.
Each observation represents one of two outcomes
The Probability of success p is the same for each outcome. (Yale.edu 97-98)
What is the probability that the entire batch unnecessarily has to be tested if in fact 95% of its laptops conform to specifications?
What is the probability that the batch is incorrectly accepted if only 75% of its laptops conform to specifications?