1) Assuming the binomial distribution is appropriate, ifN= 6 andP= 0.50, the probability of getting exactly 5Pevents = _________.

I have no clue what formula to use to get the answer.

2)During the past 5 years there has been an inflationary trend. Listed below is the average cost of a gallon of milk for each year.

1981 $1.10

1982 $1.23

1983 $1.30

1984 $1.50

1985 $1.65

Assuming a linear relationship exists, and that the relationship continues unchanged through 1986, what would you predict for the average cost of a gallon of milk in 1986?

For this problem do i first find R using the pearson R formula?