SOLUTION: Fifty percent of households say they would feel secure if they had $50,000 in savings. You randomly select 8 households and ask them if they would feel secure if they had $50,000 i

Question 711485: Fifty percent of households say they would feel secure if they had $50,000 in savings. You randomly select 8 households and ask them if they would feel secure if they had $50,000 in savings. Find the probability that the number that they say they would feel secure is (a) exactly five, (b) more than five, (c) at most five
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Fifty percent of households say they would feel secure if they had $50,000 in savings. You randomly select 8 households and ask them if they would feel secure if they had $50,000 in savings.
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Binomial Problems with n = 8 and P(secure) = 1/2
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Find the probability that the number that they say they would feel secure is (a) P(exactly five) = 8C5(1/2)^8 = 56/256
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(b) P(more than five) = 1 - binomcdf(8,1/2,4) = 0.3633
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(c) P(at most five) = binomcdf(8,1/2,5) = 0.8555
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Cheers,
Stan H.
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