The Employee Benefit Research Institute reports that 58% of workers say they are confident they have saved
Question:
The Employee Benefit Research Institute reports that 58% of workers say they are confident they have saved enough for retirement (“The 2015 Retirement Confidence Survey: Having a retirement savings plan a key factor in Americans’ retirement confidence, EBRI Issue Brief #413, April 2015).
a. If a random sample of 30 workers is taken, what is the probability that fewer than 17 workers are confident?
b. If a random sample of 50 workers is taken, what is the probability that more than 40 workers are confident about their retirement savings?
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a The characteristics of the binomial distribution are p 058 q 1 p 0...View the full answer
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Related Book For 
Business Statistics A Decision Making Approach
ISBN: 9780134496498
10th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
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