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A survey by KRC Research for U.S. News reported that 40% of people      plan to spend...

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Basic Math

A survey by KRC Research for U.S. News reported that40% of people

     plan to spend more on eating out afterthey retire. Suppose a random sample of 20   

     people are selected and the processfollows a binomial distribution, with p = 0.40

a. What is the expected value and standard deviation of thepeople in the sample who

      plan to spend more on eating outafter they retire.

b. What is the probability that 8 or fewer in the sampleindicate that they plan to spend

      more on eating out afterretirement?

c. What is the probability that at least 9 people (i.e. 9 ormore) in the sample indicate

      that they plan to spend more oneating out after retirement?

Answer & Explanation Solved by verified expert
4.1 Ratings (515 Votes)
BIONOMIAL DISTRIBUTION pmf of BD is f k n k pk 1 p nk where k number of successes in trials n is the number of independent trials p probability of success on each trial I mean np where n total number of repetitions experiment is executed p success probability    See Answer
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