Binomial probability distributions are used in business
Binomial probability distributions are used in business, science, engineering, and other fields. Suppose you work for a marketing agency and have to create a television ad for Brand A toothpaste. The toothpaste manufacturer claims that 40% of the toothpaste buyers prefer Brand A to Brand B. Your agency conducts a survey to check whether this claim is reasonable.
Respond to the following:
How would you do the sample survey?
Explain how you would conduct the survey.
What are the ethical implications if the manufacturer of Brand A toothpaste asked you to survey only its employees?
Considering this as a binomial distribution problem, how would you interpret the outcomes?
After conducting a random sample of people who do not work for the manufacturer, you found that 35/100 prefer Brand A. Could the manufacturer’s claim still be true?
Your random sample of 100 found only 25 people who preferred Brand A. If it is too unusual, would you still be justified in running the ad?
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