document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=228437>Question 228437</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Fourteen percent of workers believe they will need less than $250,000 when they retire.You randomly select 10 workers and ask each how much money he or she thinks they will need for retirement .find the probability that the number of workers who say they will need less than $250,000 when they retire is a)exactly two b)more than 6,and c)at most five </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #169560 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=169560\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Fourteen percent of workers believe they will need less than $250,000 when they retire.You randomly select 10 workers and ask each how much money he or she thinks they will need for retirement .<BR>\n" );
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document.write( "It's binomial with n=10 ; p = 0.14\r<BR>\n" );
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document.write( "find the probability that the number of workers who say they will need less than $250,000 when they retire is <BR>\n" );
document.write( "a)exactly two<BR>\n" );
document.write( "Ans: binompdf(10,0.14,2) = 0.2639..<BR>\n" );
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document.write( "b)more than 6<BR>\n" );
document.write( "Ans: 1 - binomcdf(10,0.14,6) = 0.00008556...<BR>\n" );
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document.write( "c)at most five<BR>\n" );
document.write( "Ans: binomcdf(10,0.14,5) = 0.9990..<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. <BR>\n" );
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