document.write( "Question 615113: According to the US Small Business Administration, small businesses provide 75% of the net new jobs added to the economy. Consider a random sample of 1000 new jobs.\r
\n" );
document.write( "\n" );
document.write( "(a) Find the probability that the sample contains 800 new jobs provided by small businesses.\r
\n" );
document.write( "\n" );
document.write( "(b) What is the most likely number of new jobs to be provided by small businesses?\r
\n" );
document.write( "\n" );
document.write( "(c) Find and interpret the mean. \n" );
document.write( "
Algebra.Com's Answer #386971 by stanbon(75887)![]() ![]() ![]() You can put this solution on YOUR website! According to the US Small Business Administration, small businesses provide 75% of the net new jobs added to the economy. Consider a random sample of 1000 new jobs. \n" ); document.write( "-------------------------------- \n" ); document.write( " \n" ); document.write( "(a) Find the probability that the sample contains 800 new jobs provided by small businesses. \n" ); document.write( "--- \n" ); document.write( "Binomial Problem with n = 1000 and p = 0.75 \n" ); document.write( "---- \n" ); document.write( "P(x = 800) = 1000C800*0.75^800*0.25^200 = 0.00002869 \n" ); document.write( "==========================\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "(b) What is the most likely number of new jobs to be provided by small businesses? \n" ); document.write( "mean = np = 1000*0.75 = 750 \n" ); document.write( "========================== \n" ); document.write( " \n" ); document.write( "(c) Find and interpret the mean. \n" ); document.write( "Same answer as \"b\". \n" ); document.write( "Cheers, \n" ); document.write( "Stan H. \n" ); document.write( " \n" ); document.write( " |