Exhibit 5-11.For a particular clothing store,a marketing firm finds that 16% of $10-off coupons delivered by mail are redeemed.Suppose six customers are randomly selected and are mailed $10-off coupons. Refer to Exhibit 5-11.What is the probability that three of the customers redeem the coupon?
A)0.0486
B)0.1912
C)0.3513
D)0.4015

Question

Quizplus · Accepted Answer

The probability that three out of six customers redeem the coupon can be calculated using the binomial probability formula: P(X=k) = C(n, k) * p^k * (1-p)^(n-k), where n=6, k=3, and p=0.16. This calculation results in approximately 0.0486.