A company markets educational software products and is ready to place three new products on the market. Past experience has shown that for this particular software, the chance of "success" is 80%. Assume that the probability of success is independent for each product. What is the probability that exactly 1 of the 3 products is successful?
A) 0.80
B) 0.032
C) 0.24
D) 0.096

Question

Quizplus · Accepted Answer

We can use the binomial distribution to solve this problem. Let X be the number of successful products out of 3:
P(X = 1) = (3 choose 1) * 0.8^1 * 0.2^2
= 3 * 0.8 * 0.04
= 0.096 
Therefore, the probability that exactly 1 of the 3 products is successful is 0.096, which is answer choice D.

A Company Markets Educational Software Products and Is Ready to Place