SOLUTION: Thirty-five percent of households say they would feel secure if they had $50,000 in savings. You randomly select 8 households and ask them if they would feel secure if they had $50

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Question 838700: Thirty-five percent of households say they would feel secure if they had $50,000 in savings. You randomly select 8 households and ask them if they would feel secure if they had $50,000 in savings. Find the probability that the number that say they would feel secure is (a)exactly five, (b)more than five, and (c) at most five
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Thirty-five percent of households say they would feel secure if they had $50,000 in savings. You randomly select 8 households and ask them if they would feel secure if they had $50,000 in savings.
Binomial problem with n = 8 and p(secure) = 0.35
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Find the probability that the number that say they would feel secure is
(a) exactly five = 8C5(0.35)^5*(0.65)^3 = binompdf(8,0.35,5) = 0.0808
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(b) more than five = 1 - binomcdf(8,0.35,4) = 0.1061
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(c) at most five = binomcdf(8,0.35,5) = 0.9747
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Cheers,
Stan H.
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