document.write( "Question 1205765: 27% of college students say they use credit cards because of the rewards program. You randomly select 10 college students and ask each to name the reason he or she uses credit cards. Find the probability that the number of college students who say they use credit cards because of the rewards program is (a) exactly two, (b) more than two,
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Algebra.Com's Answer #842784 by ikleyn(52908) $\"\"$ $\"About$

You can put this solution on YOUR website!
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\n" ); document.write( "27% of college students say they use credit cards because of the rewards program.
\n" ); document.write( "You randomly select 10 college students and ask each to name the reason he or she uses credit cards.
\n" ); document.write( "Find the probability that the number of college students who say they use credit cards
\n" ); document.write( "because of the rewards program is
\n" ); document.write( "(a) exactly two,
\n" ); document.write( "(b) more than two, and
\n" ); document.write( "(c) between two and five inclusive.
\n" ); document.write( "If convenient, use technology to find the probabilities.
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document.write( "It is a binomial distribution probability problem.\r\n" );
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document.write( "There are standard formulas and calculators to compute these probabilities.\r\n" );
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document.write( "(a)  In part (a), the number of trials is 10; the number of successful trials is 2;\r\n" );
document.write( "     the probability of success at each individual trial is p= 0.27.  The formula is\r\n" );
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document.write( "        P =  =  = 0.2646  (rounded).\r\n" );
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document.write( "     For calculation, you may use Excel, by copying this formula into a spreadsheet.\r\n" );
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document.write( "     Alternatively, you may use a standard function BINOM.DIST of Excel.\r\n" );
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document.write( "     Alternatively, you may use free of charge online calculator \r\n" );
document.write( "        https://stattrek.com/online-calculator/binomial.aspx\r\n" );
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document.write( "     It has simple interface and covers various/numerous options.\r\n" );
document.write( "     Even beginner student can easily use it. In my view, it is the most convenient \r\n" );
document.write( "     calculator for such problems.\r\n" );
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document.write( "(b)  In part (b), the number of trials is n=10; the number of successful trials is k > 2;\r\n" );
document.write( "     the probability of success at each individual trial is p= 0.27. \r\n" );
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document.write( "     Use free of charge online calculator https://stattrek.com/online-calculator/binomial.aspx\r\n" );
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document.write( "         P = P(n=10; k > 2; p=0.27) = 0.53351  (rounded).\r\n" );
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document.write( "(c)  In part (c), the number of trials is n=10; the number of successful trials is 2 <= k <= 5;\r\n" );
document.write( "     the probability of success at each individual trial is p= 0.27. \r\n" );
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document.write( "     Use free of charge online calculator https://stattrek.com/online-calculator/binomial.aspx\r\n" );
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document.write( "         P = P(n=10; k <= 5; p=0.27) - P(n=10; k <= 1; p=0.27) = 0.97128 - 0.20193 = 0.76935  (rounded).\r\n" );
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document.write( "     Pay attention on how my formula looks like in this calculation.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Regular calculators like TI-83/84 also can be used.
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\n" ); document.write( "\n" ); document.write( "https://www.mathbootcamps.com/binomial-probabilities-ti-83-or-84-calculator/\r
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\n" ); document.write( "\n" ); document.write( "If you want to see many similar or different solved problems on binomial distribution probability, look into the lessons\r
\n" ); document.write( "\n" ); document.write( "    - Simple and simplest probability problems on Binomial distribution \r
\n" ); document.write( "\n" ); document.write( "    - Typical binomial distribution probability problems \r
\n" ); document.write( "\n" ); document.write( "    - How to calculate Binomial probabilities with Technology (using MS Excel) \r
\n" ); document.write( "\n" ); document.write( "    - Solving problems on Binomial distribution with Technology (using MS Excel) \r
\n" ); document.write( "\n" ); document.write( "    - Solving problems on Binomial distribution with Technology (using online solver) \r
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\n" ); document.write( "\n" ); document.write( "After reading these lessons, you will be able to solve such problems on your own, \r
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