Assume a binomial probability distribution has p = .60 and n = 200. a. What are the

Question:

Assume a binomial probability distribution has p = .60 and n = 200.

a. What are the mean and standard deviation?

b. Is this situation one in which binomial probabilities can be approximated by the normal probability distribution? Explain.

c. What is the probability of 100 to 110 successes?

d. What is the probability of 130 or more successes?

e. What is the advantage of using the normal probability distribution to approximate the binomial probabilities? Use part (d) to explain the advantage.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...