SOLUTION: A recent report in businessweek indicates that 20 percent of all employess steal from their company each year. if a company empoys 50 people, what is the probability that fewer th
Algebra.Com
Question 662582: A recent report in businessweek indicates that 20 percent of all employess steal from their company each year. if a company empoys 50 people, what is the probability that fewer than 5 emplyees steal? More than 5 employees steal? Exactly 5 employees steal? More than 5 but fewer than 15 employees steal?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A recent report in businessweek indicates that 20 percent of all employess steal from their company each year. if a company employs 50 people, what is the probability that fewer than 5 emplyees steal? More than 5 employees steal? Exactly 5 employees steal? More than 5 but fewer than 15 employees steal?
------
Binomial Problem with n = 50 ; p(steal) = 0.2
----
what is the probability that fewer than 5 emplyees steal?
Ans: P(0<= x < 4) = binomcdf(50,0.2,4) = 0.0185
---------------------------------------
More than 5 employees steal?
Ans: 1 - answer to previous = 0.9815
-------------------------------------
Exactly 5 employees steal?
Ans: P(x = 5) = 50C5(0.2)^5*(0.95)^45 = binompdf(50,0.2,5) = 0.0295
---------------------------
More than 5 but fewer than 15 employees steal?
Ans: P(6<= x <= 14) = binomcdf(50,0.2,14)-binomcdf(50,0.2,5) = 0.8913
===============
Cheers,
Stan H.
RELATED QUESTIONS
A recent report in BusinessWeek indicated that 20 percent of all employees steal from... (answered by ewatrrr)
A recent article in the paper claims that business ethics are at an all-time low.... (answered by ikleyn)
An employee benefits consulting firm has just completed a survey of the health plans... (answered by stanbon)
Please help! This is the last question of the last week of this class. Thank you for your (answered by stanbon)
In the most recent election 20 percent of all eligible college student voted if a random... (answered by rothauserc)
the ratio of men to women at a company is 4 to 5. how many males employees are there if... (answered by robertb)
A rental company purchases cars from two dealerships. 75% of the vehicles are purchased... (answered by mathmate)
Research at the University of Toledo indicates that 50 percent of the students change... (answered by stanbon)
The Bell company manufactures laptop computers. A study indicates that the life spans of... (answered by Boreal)