8. A binomial probability experiment is conducted with the given parameters. Compute the probability of x successes in the A 8. binomial probability experiment is conducted with the given parameters. Compute the probability of x successes in the n independent trials of the experiment.

n=13, p=0.3, x=4

The probability of x=4 successes is ..... (Round to four decimal places as needed.)

5. Suppose a life insurance company sells a

$230,000

1-year term life insurance policy to a

20-year-old

female for

$210.

According to the National Vital Statistics Report, 58(21), the probability that the female survives the year is

0.999544.

Compute and interpret the expected value of this policy to the insurance company.

Question content area bottom

Part 1

The expected value is

$enter your response here.

(Round to the nearest cent as needed.)

Part 2

Which of the following interpretations of the expected value is correct? Select the correct choice below and fill in the answer box to complete your choice.

(Round to the nearest cent as needed.)

A.

The insurance company expects to make a profit of

$enter your response here

on every

20 dash year dash old

female it insures for 1 year.

B.

The insurance company expects to make a profit of

$enter your response here

on every

20 dash year dash old

female it insures for 1 month.

C.

The insurance company expects to make a minimum profit of

$enter your response here

on every

20 dash year dash old

female it insures for 1 month.

D.

The insurance company expects to make a maximum profit of

$enter your response here

on every

20 dash year dash old

female it insures for 1 year.

9. According to a study done by Nick Wilson of Otago University Wellington, the probability a randomly selected individual will not cover his or her mouth when sneezing is

0.267.

Suppose you sit on a bench in a mall and observe people's habits as they sneeze. Complete parts (a) through (c).

Question content area bottom

Part 1

(a)

Using the binomial distribution, what is the probability that among

10

randomly observed individuals, exactly

5

do not cover their mouth when sneezing?

The probability is

enter your response here.

(Round to four decimal places as needed.)

Part 2

(b)

Using the binomial distribution, what is the probability that among

10

randomly observed individuals, fewer than

6

do not cover their mouth when sneezing?

The probability is

enter your response here.

(Round to four decimal places as needed.)

Part 3

(c)

Using the binomial distribution,

would

you be surprised if, after observing

10

individuals, fewer than half covered their mouth when sneezing? Why?

it

be surprising, because the probability is

enter your response here,

which is

0.05.

(Round to four decimal places as needed.)