document.write( "Question 1150527: It is estimated that 20% of luxury cars manufactured in 2019 were silver. A car dealership typically sells 20 luxury cars per month. The probability that more than 10 of the luxury cars sold per month are silver is: \n" ); document.write( "

Algebra.Com's Answer #771899 by ikleyn(52835) $\"\"$ $\"About$

You can put this solution on YOUR website!
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document.write( "This is a binomial distribution type problem where the probability under the question is the sum\r\n" );
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document.write( "     P =       (1)\r\n" );
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document.write( "The number of trials is              20;\r\n" );
document.write( "The indexes of success trials        k = 11,12,13,14,15,16,17,18,19,20\r\n" );
document.write( "The probability of success trial     p = 0.2;\r\n" );
document.write( "                                     q = 1 - p\r\n" );
document.write( "C(n,k) = n! / (k! * (n-k)!)          are binomial coefficients.\r\n" );
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document.write( "The sum  (1)  is equal to  1 - .     (2)\r\n" );
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document.write( "Instead of calculating every term of (2) manually and then summing them up, you may use Excel function \r\n" );
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document.write( "BINOM.DIST(10, 20, 0.2, TRUE)  to calculate the cumulative sum value\r\n" );
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document.write( "     = 0.999437.    \r\n" );
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document.write( "In this way, the value of  (2)  is equal to  1 - 0.999437 = 0.000563 (approximately).    ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "On Excel function BINOM.DIST, see its description everywhere, for example\r
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\n" ); document.write( "\n" ); document.write( "https://support.office.com/en-us/article/binom-dist-function-c5ae37b6-f39c-4be2-94c2-509a1480770c\r
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