Question 662582: A recent report in businessweek indicates that 20 percent of all employess steal from their company each year. if a company empoys 50 people, what is the probability that fewer than 5 emplyees steal? More than 5 employees steal? Exactly 5 employees steal? More than 5 but fewer than 15 employees steal?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A recent report in businessweek indicates that 20 percent of all employess steal from their company each year. if a company employs 50 people, what is the probability that fewer than 5 emplyees steal? More than 5 employees steal? Exactly 5 employees steal? More than 5 but fewer than 15 employees steal?
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Binomial Problem with n = 50 ; p(steal) = 0.2
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what is the probability that fewer than 5 emplyees steal?
Ans: P(0<= x < 4) = binomcdf(50,0.2,4) = 0.0185
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More than 5 employees steal?
Ans: 1 - answer to previous = 0.9815
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Exactly 5 employees steal?
Ans: P(x = 5) = 50C5(0.2)^5*(0.95)^45 = binompdf(50,0.2,5) = 0.0295
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More than 5 but fewer than 15 employees steal?
Ans: P(6<= x <= 14) = binomcdf(50,0.2,14)-binomcdf(50,0.2,5) = 0.8913
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Cheers,
Stan H.
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