Question 139734: Having a lot of trouble with this. Please help and show me how so I can actually learn from all this. Thanks!
PS- I am allowed to use Megastat on this so any direction there would be welcomed as well.
Q: Labor negotiators estimate that 30% of all major contract negotiations result in a strike. During the next year, 12 major contracts must be negotiatied. Show all of your work, the results below are from MegaStat.
Binomial Distribution:
N 12
P 0.3
Expected Value 3.600
Variance Standard 2.520
Deviation 1.587
A. Determine the probabiltiy of no strikes next year.
B. Determine the probabiloty of 3 or 4 strikes next year.
C. What is the average number of strikes expected for next year?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Q: Labor negotiators estimate that 30% of all major contract negotiations result in a strike. During the next year, 12 major contracts must be negotiatied. Show all of your work, the results below are from MegaStat.
Binomial Distribution:
N 12
P 0.3
Expected Value 3.600
Variance Standard 2.520
Deviation 1.587
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P(strike) = 0.3 ; P(no strike) = 0.7
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A. Determine the probabiltiy of no strikes next year.
P(none in 12) = 0.7*12 = 0.1384...
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B. Determine the probability of 3 or 4 strikes next year.
P(3 or 4) = Prob(3) + P(4) = 12C3(0.3)^3*(0.7)^9 + 12C4(0.3)^4*(0.7)^8
= 0.2397... + 0.2311396... = 0.47084...
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C. What is the average number of strikes expected for next year?
mean or average = np = 12*0.3 = 3.6 strikes per year
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Cheers,
Stan H.
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