1. There is great concern that workers less than 35 years of age do not have a sense of what they will need to live on in retirement. A recent survey found that 28% of workers less than 35 years of age believe they only need about $250,000 to be set in retirement. If you were to randomly select 7 workers what is the probability that 3 of them would respond with $250.000?

2. A. Why do we need to consider the level (scale) of measurement in statistics?

B. What was the variance for problem 2?

3. Assume that adults have a pulse rate (beats per minute) with a mean of 72.93 and a standard deviation of 12.3.

What percent of the population would have a pulse rate greater than 87.2? (Be sure to give a precise number)

What is the value that separates the top 21% of all adults from the rest of the distribution?