Do I include more than the 2's? So confused

User Generated

ryfn

Mathematics

Question Description

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.

0 1 1 2 2 0 1 1 2 3 2 1 2 1 2 2 1 2 3 1 2 2 2 0 3 1 0 2 1 2 1

Estimate the probability that sales will rise at least moderately.

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Explanation & Answer

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There are 31 simulated sales in the sample and 16 have a value of 2 or 3.
16/31 = 0.516

The answer is 0.516

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FAF110575541127425866916 (75)
Boston College

Anonymous
Excellent resource! Really helped me get the gist of things.

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