Question: We have been using the normal distribution to approximate situations that are actually binomial events. make an example of a binomial event that can be

We have been using the normal distribution to approximate situations that are actually binomial events. make an example of a binomial event that can be approximated by a normal distribution

Demonstrate how accurate the approximation is by using both approaches to find the probability of the same event. Hint: Calculate the probability of the event as a binomial (sum of all binomial events) and calculate the probability of the approximated event using a normal distribution, and compare them to see how close the approximation is.

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!

We have been using the normal distribution to approximate situations that are, in fact, binomial events.Create an example of a binomial event that can be approximated by a normal distribution and:...

8. Yuen Zhi is running a ring toss event at a school fair. There is a 15% chance that each attempt wins a prize. She has 45 prizes and believes 250 people attempt the event. She is worried she won't...

9. We have been using the normal distribution to approximate situations that are in fact binomial events a)Demonstrate how accurate the approximation is by using both approaches to find the...

MDM4U f1+ B - Normal Distriubtion Assignment Answer all questions with full solutions. Make sure your work is legible, even after you have scanned it, and submit it as a single file. 1. Look at the...

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...

Determine whether you can use the normal distribution to approximate the binomial distribution. If you can, use the normal distribution to approximate the indicated probabilities and sketch their...

Week 1 Lecture 1 Class Approach to Statistics Statistics is basically a set of tools that allow us to get information out of data sets (we will get to the more formal definition below). As such, it...

Determine whether you can use the normal distribution to approximate the binomial distribution. If you can, use the normal distribution to approximate the indicated probabilities and sketch their...

Determine whether you can use the normal distribution to approximate the binomial distribution. If you?can, use the normal distribution to approximate the indicated probabilities and sketch their...

Last year Minden Company introduced a new product and sold 15,000 untis of it at a price of $80 per unit. The product's variable expenses are $50 per unit and its fixed expenses are $528600 per year....

Find a quadratic function that passes through the point (2,-20) satisfying that the tangent line at x = 2 has the equation y = -15x+10. Show your work and/or explain how you got your answer.

The semistrong - form EMH hypothesis implies that investors who base their decisions on any important new information after it is public should not derive above - average risk - adjusted profits from...

Alto Company has an ROI of 20% on operating assets of $1,000,000. If sales increase by $40,000 and expenses remain constant, what will be the new ROI? Question 5 options: 16% 24% 18% 12%

Differentiate between city ledger accounts receivable and house accounts receivable in a hotel. LO1

What two procedures can be instituted in a hotel to minimize the dollar amount of house accounts? LO1

What two main purposes are served by preparing a cash budget? LO1