Probability that 12 have purchased yellow gold diamond rings

In summary, the conversation discusses the probability of 12 out of 20 people purchasing yellow gold diamond rings, given that 65% of diamond rings sold in WV are yellow gold. This can be interpreted as a binomial random variable with success probability of 0.65. The general formula for a binomial random variable is provided as a potential approach to finding the desired probability.
  • #1
eatinbyzombies3
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0
Let’s also say that 65% of all diamond rings sold in WV are yellow gold. In a random sample of 20 folks, what is the probability that 12 have purchased yellow gold diamond rings?thank you and I promise this is the last question today.:D
 
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  • #2
re: probability that 12 have purchased yellow gold diamond rings

Hopefully someone else will confirm this approach, but it seems like you can interpret this to be a binomial random variable. If not then my apologies in advance. Let's say that $P[\text{gold}]=0.65$.

The general formula for a binomial random variable is:

\(\displaystyle P[X=k]=\binom{n}{k}p^{k}(1-p)^{n-k}\)

where $p$ is the success probability, $n$ is the number of trials and $k$ is the number of successes. Can you fill in the information?
 

FAQ: Probability that 12 have purchased yellow gold diamond rings

What does "Probability that 12 have purchased yellow gold diamond rings" mean?

The probability that 12 have purchased yellow gold diamond rings refers to the likelihood that out of a group of 12 people, all 12 have purchased a yellow gold diamond ring.

How is probability calculated?

Probability is calculated by dividing the number of desired outcomes by the total number of possible outcomes. In this case, it would be the number of people who have purchased yellow gold diamond rings divided by the total number of people in the group.

What factors can affect the probability?

The probability can be affected by various factors such as the size of the group, the demographics of the group, and the availability and popularity of yellow gold diamond rings.

Is probability a guarantee that 12 people have purchased yellow gold diamond rings?

No, probability is not a guarantee. It is simply a measure of likelihood or chance. Even if the probability is high, it does not guarantee that all 12 people have purchased yellow gold diamond rings.

How is probability used in science?

Probability is used in science to make predictions and analyze data. It helps scientists understand the likelihood of a certain outcome and make informed decisions based on that information.

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