SOLUTION: According to the statistics Canada website the unemployment rate in Canada is approximately 7.1% of the eligible workforce. If 25 members of the eligible workforce are randomly sel

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Question 1162978: According to the statistics Canada website the unemployment rate in Canada is approximately 7.1% of the eligible workforce. If 25 members of the eligible workforce are randomly selected, what is the probability that exactly 2 of them are unemployed
(Round your response to 3 decimal places)
Answer by ikleyn(52915) About Me  (Show Source):
You can put this solution on YOUR website!
.

It is the binomial type probability distribution.


The number of trial n= 25; the probability of the success trial is  0.071,  and the number of success trial k = 2. 


P = C%5B25%5D%5E2%2A0.071%5E2%2A%281-0.071%29%5E%2825-2%29 = %28%2825%2A24%29%2F%281%2A2%29%29%2A0.071%5E2%2A0.929%5E23 = 0.278 (rounded).     ANSWER

Solved.

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To see many other similar solved problems, look into the lessons
    - Simple and simplest probability problems on Binomial distribution
    - Typical binomial distribution probability problems
in this site.