SOLUTION: You and your 50 coworkers decide to play a game that consists of flipping a coin once for each coworker. if the flip of the coin for the particular coworker results in head, you wi

Question 455044: You and your 50 coworkers decide to play a game that consists of flipping a coin once for each coworker. if the flip of the coin for the particular coworker results in head, you will have to pay them $1. If it results in a tail, neither party has to pay anything.
Assume that the coin you are using is a fair coin (i.e. the probability of getting a head or a tail is equal to 0.5)
the probability that you will not have to pay more than $18
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
You and your 50 coworkers decide to play a game that consists of flipping a coin once for each coworker. if the flip of the coin for the particular coworker results in head, you will have to pay them $1. If it results in a tail, neither party has to pay anything.
Assume that the coin you are using is a fair coin (i.e. the probability of getting a head or a tail is equal to 0.5)
the probability that you will not have to pay more than $18
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Binomial problem with n = 49 and p = 1/2
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P(0<= x <=18) = binomcdf(49,0.5,18) = 0.0427
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Cheers,
Stan H.
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