Jankord Jewelers permits the return of their diamond wedding rings, provided the return occurs within two weeks. Typically, 10 percent are returned. If eight rings are sold today, what is the probability that fewer than three will be returned?
A).9950
B).9619
C).0331
D).1488

Question

Quizplus · Accepted Answer

The problem follows a binomial distribution with n=8 trials and a probability of success (return) p=0.10. We need to find the probability of fewer than 3 returns, which is P(X<3) = P(X=0) + P(X=1) + P(X=2). Calculating these probabilities and summing them gives approximately 0.9619.

Jankord Jewelers Permits the Return of Their Diamond Wedding Rings