Question 1145295
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Let's take care of 2.4 first:<br>
ANSWER: (3/5) of 150 = 90<br>
For 2.1 through 2.3, the calculations are straightforward; you won't learn anything by having us do them for you.  What you need is the probabilities that certain numbers of trust funds will perform better than the JSE average.<br>
(1) Calculate the probabilities for 0, 1, 2, ..., 7 of the seven selected funds doing better than the average.
(2) To check your calculations, verify that the sum of those probabilities is equal to 1.
(3) Combine the individual probabilities as appropriate to answer 2.1 through 2.3.<br>
{{{P(0) = (7C0)*(3/5)^0*(2/5)^7}}}<br>
{{{P(1) = (7C1)*(3/5)^1*(2/5)^6}}}<br>
{{{P(2) = (7C2)*(3/5)^2*(2/5)^5}}}<br>
{{{P(3) = (7C3)*(3/5)^3*(2/5)^4}}}<br>
{{{P(4) = (7C4)*(3/5)^4*(2/5)^3}}}<br>
{{{P(5) = (7C5)*(3/5)^5*(2/5)^2}}}<br>
{{{P(6) = (7C6)*(3/5)^6*(2/5)^1}}}<br>
{{{P(7) = (7C7)*(3/5)^7*(2/5)^0}}}<br>