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Finding Binomial Probabilities In Exercise,
Chapter 4, Problem 21E(choose chapter or problem)
Problem 21E
Finding Binomial Probabilities In Exercise, find the indicated probabilities. If convenient, use technology or Table 2 in Appendix B to find the probabilities.
Comfortable Retirement Fifty-one percent of workers are confident that they will retire with a comfortable lifestyle. You randomly select 10 workers. Find the probability that the number of workers who are confident that they will retire with a comfortable lifestyle is (a) exactly two, (b) more than two, and (c) between two and five, inclusive.
Questions & Answers
QUESTION:
Problem 21E
Finding Binomial Probabilities In Exercise, find the indicated probabilities. If convenient, use technology or Table 2 in Appendix B to find the probabilities.
Comfortable Retirement Fifty-one percent of workers are confident that they will retire with a comfortable lifestyle. You randomly select 10 workers. Find the probability that the number of workers who are confident that they will retire with a comfortable lifestyle is (a) exactly two, (b) more than two, and (c) between two and five, inclusive.
ANSWER:
Solution:
Step 1 of 3:
From the given problem, we have
n = 10, p = 51%
= 0.51
The pmf of a Binomial distribution is
P(X = x) = ; x = 0, 1, 2,...., n.
To find the probability that the number of workers who are confident that they will retire with a comfortable lifestyle is
a). Here we have to find the probability of exactly two.
Thus,
= 0.0389
Hence, the probability of exactly two is 0.0389.