Let x be a binomial random variable with n 25, p 2 a Use Table 1 in Appendix I to calculate P(4 x 6) b Find and for the binomial probability distribution, and use the normal distribution to approximate the probability P(4 x 6) Note that this value is a good approximation to the exact value of P(4 x...

a Given a binomial random variable x with n 25 and p 2 ...

Let x be a binomial random variable with n = 25, p = .2. a. Use Table

Question:

Let x be a binomial random variable with n = 25, p = .2.
a. Use Table 1 in Appendix I to calculate P(4 ≤ x ≤ 6).
b. Find µ and σ for the binomial probability and use the normal to approximate the probability P(4 ≤ x ≤ 6). Note that this value is a good approximation to the exact value of P(4 ≤ x ≤ 6) even though np = 5.
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...