For each of the following situations, explain whether the binomial distribution applies for X. a. You are...

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For each of the following situations, explain whether thebinomial distribution applies for X.
a. You are bidding on four items available on eBay. You thinkthat you will win the first bid with probability 25% and the secondthrough fourth bids with probability 30%. Let X denote the numberof winning bids out of the four items you bid on.
b. You are bidding on four items available on eBay. Each bid isfor $70, and you think there is a 25% chance of winning a bid, withbids being independent events. Let X be the total amount of moneyyou pay for your winning bids.

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Solution The conditions necessary for any random experiment to be binomial is given below The experiment consists of n repeated trials Each trial can result in just two possible outcomes The probability of success denoted by P is the same on every See Answer

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