A market research company surveyed consumers to determine th

A market research company surveyed consumers to determine their ranked preferences of energy drinks among the brands Monster, Red Bull and Rockstar.

a: What are the outcomes of this experiment for one respondent?

b: What is the probability that one respondent will rank Red Bull first?

c: What is the probability that two respondents will both rank Red Bull first?

Solution

a.

Outcomes for one respondent : (Leftmost be the rank 1)

Monster, Red Bull and Rockstar

Monster, Rockstar and Red Bull

Red Bull , Monster and Rockstar

Red Bull , Rockstar and Monster

Rockstar , Monster and Red Bull

Rockstar , Red Bull and Monster

b.

P( rank Red Bull first) = 2/6 = 1/3 =0.33 Answer

c.

P( two respondents will both rank Red Bull first) = 1/3 * 1/3 = 1/9 = 0.11 Answer