SOLUTION: 40% percent of households say they would feel secure if they had​ $50,000 in savings. You randomly select 88 households and ask them if they would feel secure if they had
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Question 1051630: 40% percent of households say they would feel secure if they had $50,000 in savings. You randomly select 88 households and ask them if they would feel secure if they had $50,000 in savings. Find the probability that the number that say they would feel secure is (a) exactly five, (b) more than five, and (c) at most five.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
exactly 5 is 88C5(0.4)^5*0.6^83=1.5 X 10^(-13) or essentially 0.
4,3,2,1 will also be 0.
Therefore, c is 0.
b is 1.0
The expected value for 88 households is 88*0.4 or 35.2
The variation is 35.2*0.6 (np(1-p))=21.12, and the standard deviation is 4.6
5 households is 30.2/4.6, or 6.5 standard deviations below the mean.
Could the question be 8 households?
There the probability of 5 would be 8C50.4^5*0.6^3=0.124
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