There is currently a global pandemic and many researchers and scientists are working assiduously to find a vaccine. Assume that Advanced Researcher, a

Answers (1)

2021-03-08

Step 1
Given,
There is currently a global pandemic and many researchers and scientists are working assiduously to find a vaccine. Assuming that Advanced Researcher, a company that is currently testing a few vaccines confirms an 80% chance of effectiveness of one of their vaccines.
\(\displaystyle\Rightarrow{P}{\left({S}{u}{\mathcal{{e}}}{s}{s}\right)}={0.8}\)
\(\displaystyle\Rightarrow{P}{\left({f}{a}{i}{l}{u}{r}{e}\right)}={1}-{0.8}={0.2}\)
Step 2
The probability distribution that we would use to calculate the probability of success or failure of Advanced Researcher's vaccine if it were to be administered to people in society is Binomial distribution.
Here, the assumptions are:
Each trial has only two possible outcomes, but only one occurs at a time
Each trial is mutually exclusive.
Each trial has equal probability.

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