Question 1030099: Forty dash five percent of households say they would feel secure if they had $50,000 in savings. You randomly select 8households 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.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Forty dash five percent of households say they would feel secure if they had $50,000 in savings. You randomly select 8households 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.
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Binomial Problem with n = 8 and p = 0.45
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a) P(x = 5) = 8C5*0.45^5*0.55*3 = binompdf(8,0.45,5) = 0.1719
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c) P(x <= 5) = binomcdf(8,0.45,5) = 0.9115
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b) P(x > 5) = 1 - answer to "c" = 0.0885
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Cheers,
Stan H.
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