SOLUTION: 300 pennies are tossed into the air. Determine the probability of: 1) P(125 is less than or = X less than or = 170 tails) 2) If your co worker is willing to wager 10.00 on th

Algebra ->  Algebra  -> Probability-and-statistics -> SOLUTION: 300 pennies are tossed into the air. Determine the probability of: 1) P(125 is less than or = X less than or = 170 tails) 2) If your co worker is willing to wager 10.00 on th      Log On

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Question 76132: 300 pennies are tossed into the air. Determine the probability of:
1) P(125 is less than or = X less than or = 170 tails)
2) If your co worker is willing to wager 10.00 on this, should I take the wager and why?
Answer by stanbon(57967) About Me  (Show Source):
You can put this solution on YOUR website!
300 pennies are tossed into the air. Determine the probability of:
1) P(125 is less than or = X less than or = 170 tails)
z(125)=(125-300*(1/2))/sqrt(300(1/2)(1/2))= -2.88675
z(170)=(170-150)/sqrt(300*(1/4))=2.3094
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P(125<=x<=170)=P(-2.88675<=z<=2.3094)=0.98759
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2) If your co worker is willing to wager 10.00 on this, should I take the wager and why?
No, because the probability it will happen is almost 99%
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Cheers,
Stan H.