SOLUTION: Fifty percent of midsize manufacturers planned to have management representative visit Canada and Mexico to take advantage of opportunities created by the North American Free Trade

Question 1193398: Fifty percent of midsize manufacturers planned to have management representative visit Canada and Mexico to take advantage of opportunities created by the North American Free Trade Agreements. An export-import group in Toronto , Canada , has invited 20 US midsize manufacturers to participate in the conference to explore trade opportunities. What is the probability that no more than 5 of these manufacturers will send representatives?
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
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Fifty percent of midsize manufacturers planned to have management representative visit
Canada and Mexico to take advantage of opportunities created by the North American Free Trade Agreements.
An export-import group in Toronto , Canada , has invited 20 US midsize manufacturers
to participate in the conference to explore trade opportunities.
What is the probability that no more than 5 of these manufacturers will send representatives?
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It is a binomial distribution probability problem.


The number of trials is n=20; the individual probability of success is 0.5;
the number of success is k<=5.


Use thhis online free of charge calculator 

https://stattrek.com/online-calculator/binomial.aspx


The  ANSWER  is  P(n=20; k<=5; p=0.5) = 0.02069   (rounded).

Solved.

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If you want to see many similar (or different) solved problems, look into the lessons
- Simple and simplest probability problems on Binomial distribution
- Typical binomial distribution probability problems
in this site.

After reading these lessons, you will be able to solve such problems on your own.

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