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Thread: Business Stats question...desperate for help

  1. #1
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    Exclamation Business Stats question...desperate for help

    My professor has assigned this problem and I have no idea what else to try. I have tried binomial distributions and poisson. It is in a chapter on discrete probability distributions.

    Tire and Auto Supply is considering a 2-for-1 stock split. Before the transaction is finalized, at least two-thirds of the 1,200 company stockholders must approve the proposal. To evaluate the likelihood the proposal will be approved, the CFO selected a sample of 18 stockholders. He contacted each and found 14 approved of the proposed split. What is the likelihood of this event, assuming two-thirds of the stockholders approve?

  2. #2
    Dark Knight
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    Try binomial distribution. n=18 p=2/3
    calculate the probability of k=14

    And use one sample proportion test approve or disapprove
    In the long run, we're all dead.

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