Question 513128: 5. The U.S. economy has been in a deep recession for a while. The President Obama recently has proposed a project to rescue the economy. However, according to the survey, sixty percent of Americans still believe that the project proposed by the president will have very limited effect on the economy and the country will still be in a recession in the following year. Suppose that we randomly select a sample of 20 Americans.
a. What is the probability that exactly 12 people believe that the U.S. economy will still be in a recession in the following year? (5%) (Note: without calculation process, no credit)
b. What is the probability that no more than five people believe that the U.S. economy will still be in a recession in the following year? (5%) (Note: without calculation process, no credit)
c. How many people would you expect to say the U.S. economy will still be in a recession in the following year? (5%) (Note: without calculation process, no credit)
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! The U.S. economy has been in a deep recession for a while. The President Obama recently has proposed a project to rescue the economy. However, according to the survey,
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sixty percent of Americans still believe that the project proposed by the president will have very limited effect on the economy and the country will still be in a recession in the following year.
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Suppose that we randomly select a sample of 20 Americans.
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Binomial Problem with n = 20 ; p(believe) = 0.6
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a. What is the probability that exactly 12 people believe that the U.S. economy will still be in a recession in the following year? (5%) (Note: without calculation process, no credit)
P(x = 12) = 20C12(0.6)^12*(0.4)^8 = 0.1797
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b. What is the probability that no more than five people believe that the U.S. economy will still be in a recession in the following year? (5%) (Note: without calculation process, no credit)
P(0<= x <=5) = binomcdf(20,0.6,5) = 0.0016
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c. How many people would you expect to say the U.S. economy will still be in a recession in the following year? (5%) (Note: without calculation process, no credit)
E(x) = np = 20*0.6 = 12
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Cheers,
Stan H.
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