document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=838700>Question 838700</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Thirty-five 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 say they would feel secure is (a)exactly five, (b)more than five, 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 #505235 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=505235\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Thirty-five 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.<BR>\n" );
document.write( "Binomial problem with n = 8 and p(secure) = 0.35<BR>\n" );
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document.write( "Find the probability that the number that say they would feel secure is <BR>\n" );
document.write( "(a) exactly five = 8C5(0.35)^5*(0.65)^3 = binompdf(8,0.35,5) = 0.0808<BR>\n" );
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document.write( "(b) more than five = 1 - binomcdf(8,0.35,4) = 0.1061 <BR>\n" );
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document.write( "(c) at most five = binomcdf(8,0.35,5) = 0.9747<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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