In spite an unemployment rate of 26% and an economy in crisis, 70% of Spaniards responded that
Question:
In spite an unemployment rate of 26% and an economy in crisis, 70% of Spaniards responded that they were in favor of keeping the euro rather than returning to the peseta and the national currency in 2012. A random sample of 32 Spaniards was selected. Use the normal approximation to the binomial distribution to answer the following:
a. Calculate the mean and standard deviation for this distribution.
b. What is the probability that 20 or more Spaniards from this sample are in favor of retaining the euro?
c. What is the probability that exactly 22 Spaniards from this sample are in favor of retaining the euro?
d. What is the probability that 15, 16, 17, 18, or 19 Spaniards from this sample are in favor of retaining the euro?
e. What is the probability that less than 24 Spaniards from this sample are in favor of retaining the euro?
DistributionThe 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...
Step by Step Answer:
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