Recognize that the number of adopters follows a Binomial(n, p) distribution. For (a), use the expectation of a binomial. For (b), use the complement rule. For (c), apply the definition of conditional probability: P(X=2 | X≥1) = P(X=2) / P(X≥1).
Pro tip: After deriving the formulas, briefly discuss how you would estimate p from data (e.g., maximum likelihood) and how you might validate the independence assumption, as real-world adoption often exhibits clustering.
Let X be the number of users who adopt the wallet feature. State that X ~ Binomial(n, p) under the independence assumption.
For a binomial distribution, E[X] = n * p. This is the expected number of adopters.
Use the complement: P(X ≥ 1) = 1 - P(X = 0) = 1 - (1-p)^n.
Apply conditional probability: P(X=2 | X≥1) = P(X=2) / P(X≥1). Compute P(X=2) using the binomial PMF: C(n,2) * p^2 * (1-p)^(n-2). Then divide by the result from step 3.
Relate the results to the business context (e.g., expected adoption, likelihood of any adoption). Mention that independence may not hold in practice and suggest ways to check or adjust.
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