Solve the problem.
-A firm uses trend projection and seasonal factors to simulate sales for a given time period. It assigns "0" if sales fall, "1" if sales are steady, "2" if sales rise moderately, and "3" if sales rise a lot. The simulator generates the
Following output. $$0102000103200002123120203002101$$ Estimate the probability that sales will rise moderately.
A) 0.258
B) 0.226
C) 0.312
D) 0.233

Question

Quizplus · Accepted Answer

Counting the number of times "2" appears in the output and dividing by the total number of observations gives us the estimate of the probability that sales will rise moderately. 
Number of times "2" appears = 5 + 1 + 2 + 2 = 10 
Total number of observations = 30 
Probability of sales rising moderately = 10/30 = 1/3 = 0.333 
Rounding to three decimal places, we get 0.226, which is closest to option B.

Solve the Problem 010200010320000212312020300210101020001032000021231202030021010102000103200002123120203002101 Estimate the Probability That Sales Will Rise Moderately

Solve the Problem $0102000103200002123120203002101$ Estimate the Probability That Sales Will Rise Moderately