College stats
posted by penelope .
Please help, I would appreciate an explanation on how you got the answer so I can understand it, being that I am so confused.
The Denver Post stated that 80% of all new products introduced in grocery stores fail (are taken off the market) within 2 years. A grocery store chain introduces 66 new products this year. What is the chance that more than 75% of these new products fail within 2 years?
1.Average?
2.SD?
3.The number of draws?
4. expected value of the percentage (EV%):
5.Enter the standard error of the percentage (SE%).
6.Enter the chance more than 75% of the new products introduced this year will fail within 2 years. Round to the nearest whole number.
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