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The data and scenario from this question follows into the next question. Assume that for an ad campaign to be successful, at

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Answer #1

BIONOMIAL DISTRIBUTION
pmf of B.D is = f ( k ) = ( n k ) p^k * ( 1- p) ^ n-k
where   
k = number of successes in trials
n = is the number of independent trials
p = probability of success on each trial
I.
mean = np
where
n = total number of repetitions experiment is executed
p = success probability
mean = 24 * 0.76
= 18.24
II.
variance = npq
where
n = total number of repetitions experiment is executed
p = success probability
q = failure probability
variance = 24 * 0.76 * 0.24
= 4.3776
III.
standard deviation = sqrt( variance ) = sqrt(4.3776)
=2.0923
a.
Expected number of people is 18.24
b.
probability that of 14 or fewer people being able to recall company name
P( X < = 14) = P(X=14) + P(X=13) + P(X=12) + P(X=11) + P(X=10) + P(X=9) + P(X=8) + P(X=7) + P(X=6) + P(X=5) + P(X=4)   
= ( 24 14 ) * 0.76^14 * ( 1- 0.76 ) ^10 + ( 24 13 ) * 0.76^13 * ( 1- 0.76 ) ^11 + ( 24 12 ) * 0.76^12 * ( 1- 0.76 ) ^12 + ( 24 11 ) * 0.76^11 * ( 1- 0.76 ) ^13 + ( 24 10 ) * 0.76^10 * ( 1- 0.76 ) ^14 + ( 24 9 ) * 0.76^9 * ( 1- 0.76 ) ^15 + ( 24 8 ) * 0.76^8 * ( 1- 0.76 ) ^16 + ( 24 7 ) * 0.76^7 * ( 1- 0.76 ) ^17 + ( 24 6 ) * 0.76^6 * ( 1- 0.76 ) ^18 + ( 24 5 ) * 0.76^5 * ( 1- 0.76 ) ^19 + ( 24 4 ) * 0.76^4 * ( 1- 0.76 ) ^20
= 0.0425

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