SOLUTION: Among 120 applicants for a job in an insurance company, only 80 are actually qualified. If five of the applicants are randomly selected for an in-depth interview, find the probabi

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Question 1208164: Among 120 applicants for a job in an insurance company, only 80 are actually qualified. If
five of the applicants are randomly selected for an in-depth interview, find the probability
that only two of the five will be qualified.
Answer by ikleyn(52771) About Me  (Show Source):
You can put this solution on YOUR website!
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Among 120 applicants for a job in an insurance company, only 80 are actually qualified. If
five of the applicants are randomly selected for an in-depth interview, find the probability
that only two of the five will be qualified.
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It is a binomial type distribution problem.


The number of trials is 5; the probability of success at each individual trial is 80/120 = 2/3.
They want you calculate the probability of getting two success trials from 5 trials.


Use the standard formula for binomial distribution.  For this problem, it has the form

    P = C%5B5%5D%5E2%2A%282%2F3%29%5E2%2A%281-2%2F3%29%5E%285-2%29 = %28%285%2A4%29%2F%281%2A2%29%29%2A%282%2F3%29%5E2%2A%281%2F3%29%5E3 = 0.1646 (rounded).    ANSWER

Solved.

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

Learn the entire subject from there.