SOLUTION: The probability of winning on a slot machine is 5%. If a person plays the machine 500 times, find the probability of winning 30 times. Use the normal approximation to the binomia

Click here to see ALL problems on Probability-and-statistics

Question 44038: The probability of winning on a slot machine is 5%. If a person plays the machine 500 times, find the probability of winning 30 times. Use the normal approximation to the binomial distribution.

Found 2 solutions by stanbon, Nate:
Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website!
The probability of winning on a slot machine is 5%. If a person plays the machine 500 times, find the probability of winning 30 times. Use the normal approximation to the binomial distribution.
Find the area under the normal curve over the interval (29.5,30.5)
when the mean =np=500*0.05 and the standard deviation = sqrt(500*0.05*0.95)
I get an answer of 0.03024
Cheers,
Stan H.

Answer by Nate(3500) (Show Source):
You can put this solution on YOUR website!
C(500,30)(W)^30(F)^470
C(500,30)(5/100)^30(95/100)^470
0.045618445
About 4.6%