International Tractor Motors (ITM) had recently undertaken an ad campaign aimed at agricultural owners in a certain country in Asia. The ad campaign was devoted to promoting the new IT-8 large specialty tractor. Four sales associates were assigned to sell in different medium to large farms throughout the country for many days. One associate was assigned to the northern part of the country. Another was assigned to the southern part. The other two were assigned to the west and east, respectively. Because of regulations, a sales associate can sell at most one IT-8 tractor per day and only one such tractor per farm, too. A sales associate was successful if he or she sold a tractor during the day. Thus, ITM can sell at most 4 tractors (4 total sales) per day in this country.
The terms x represent the total number of successes (0, 1, 2, 3, 4) and f is the corresponding frequency (number of days where x successes occurred).
Explain what the numerical result means.
Explain why the relative frequency distribution table is a probability distribution.
Then, use Excel to create a scatter plot of the probability distribution:
Select the two columns of the probability distribution. Click on INSERT, and then go to the Charts area and select Scatter. Then choose the first Scatter chart (the one without lines connecting).
For example, In Excel
represents the probability of 7 successes out of 15 (n) trials. The 0.7 is the probability of success, p.
Using the above value of n=4 with probability of success, p, as the tractor sales success average in part 5, what is the probability of at least two successes?
If the probability distribution of tractor sales successes and the Binomial Distribution differ, explain why that is so.
Write a report that adheres to the formatting and APA expectations outlined on the CSU Global Writing Center (Links to an external site.). As with all written assignments at CSU Global, you should have in-text citations and a reference page.
Submit your Excel file in addition to your report.
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