Question: business stats Consider a binomial random variable X with n = 300 and p = 0.02. Approximate the values of the following probabilities. . P(X

business stats

Consider a binomial random variable X with n = 300 and p = 0.02. Approximate the values of the following probabilities. . P(X = 4). . P(X 2 5). P(X - 8)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Consider a binomial random variable X with n = 10 and p = .6 .Find the following probabilities: a)P (X = 2) b)P (X > 10) c)P (3

Suppose the numbers of a particular type of bacteria in samples of l millilitre (mL) of drinking water tend to be approximately normally distributed, with a mean of 84 and a standard deviation of 6....

please help me with the fourth question. p(x=7) 13....72,2.14poi....] \"unsung-.6301\". Consider a binomial random variable x with n = 25 and p = 0.4. m USE SALT Use Table 1 in Appendix I to nd the...

Group Work / Sample Questions for Test 2 on Binomial and Hypergeometric Distributions These were taken from past exams, pasts quizzes, and your text book. 1. For a binomial random variable, X, where...

Let X be a binomial random variable with parameters n = 5 and p = 0.2. Calculate the following: 1.P (X = 2) 2. P (X 2) 3. P (3

Chapter 7 The Binomial Model In this chapter, we construct the geometric binomial model for stock price movement and use the model to determine the value of a general European claim. An important...

Design your own game similar to the example in the course notes on page 89 and the lotto example in the document in CANVAS/FILES called RANDOM VARIABLES. Do not use a die roll for your game. Some...

Math 350 - Homework 3 - Solutions 1. The bus will arrive at a time that is uniformly distributed between 8 and 8 : 30 A.M. If we arrive at 8 A.M., what is the probability that we will wait between 5...

For the following problem, you will need formulas for binomial experiments. n = the number of independent trials x = the number of successes in n trials 5 = success F = fail p = P(S) = probability of...

complete all using simple calculations 1 Consider the following two random samples of ten observations which come from the distributions of random variables which assume non-negative integer values...

The CEO of Crinkle Forms Inc says there is a serious problem with turnover. She cites the following turn over rates for employees in three categories of seniority: 0-2 years 61% 2-5 years 21% 5+...

What is "defamation" and how does it relates to libel and slander? What constitutes a defamatory act?

in the statement of activities, can a private not - for - profit classify expenses by category in the notes

EXERCISE 3-7 Applying Overhead; Cost of Goods Manufactured LO3-3, LO3-4 The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing...