SOLUTION: According to the daily racing form , the probability is about .72 that the favorite in a horse race will finish in the money ( 1st, 2nd, or 3rd) In the next five races, what is the

Algebra ->  Probability-and-statistics -> SOLUTION: According to the daily racing form , the probability is about .72 that the favorite in a horse race will finish in the money ( 1st, 2nd, or 3rd) In the next five races, what is the      Log On


   

Question 86974: According to the daily racing form , the probability is about .72 that the favorite in a horse race will finish in the money ( 1st, 2nd, or 3rd) In the next five races, what is the probability that the favorite finishes in the money
a. exactly twice?
b. exactly four times
c. at least four times
d. between two and four times, inclusive?
e. obtain the mean of standard deviation
Answer by scianci(186) About Me  (Show Source):
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This is a binomial distribution, where p the probability of success is .72. To find the probability that a favorite will finish in the money x times out of n races is C(n , x)p%5Exq%5E%28n+-+x%29, where q is the probability that the favorite won't finish in the money. The mean is np and the standard deviation is sqrt%28npq%29.