A company’s sales manager wants to describe the number of people who prefer the company’s product. The manager conducted a survey of 100 consumers and determined that 60% prefer the company’s product over the competitor’s.
Again, the conditions fit the binomial distribution with two important values: 100 (trials) and 0.6 (60% probability of success). These values specify the parameters of the binomial distribution in Crystal Ball. The result would be a distribution of the probability that x number of people prefer the company’s product.