SOLUTION: 1. A recent survey by the American Accounting Association revealed 23% of students graduating with an Accounting degree chose public accounting. Suppose we select a sample of 15 st

Question 285319: 1. A recent survey by the American Accounting Association revealed 23% of students graduating with an Accounting degree chose public accounting. Suppose we select a sample of 15 students.
a. What is the probability exactly two select public accounting?
b. What is the probability exactly five select public accounting?
c. How many graduates would you "expect" to select public accounting?

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A recent survey by the American Accounting Association revealed 23% of students graduating with an Accounting degree chose public accounting. Suppose we select a sample of 15 students.
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Binomial Problem with n=15 ; p = 0.23
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a. What is the probability exactly two select public accounting?
P(x=2) = 15C2*0.23^2*0.77^13 = 0.1860
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b. What is the probability exactly five select public accounting?
P(x=5) = 15C5(0.23)^5*0.77^10 = 0.1416
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c. How many graduates would you "expect" to select public accounting?
mean = np = 15*0.23 = 3.45
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Cheers,
Stan H.
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