Binomial distribution

Binomial distribution - Distribution of Binomials Qmst 2333...

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Distribution of Binomials Qmst 2333 1. For a binomial distribution with a sample size equal to 10 and a probability of a success equal to 0.30, what is the probability that the sample will contain exactly three successes? Use the calculator to determine the probability. P(x=3) = .2668 2. A bank manager has recently examined the credit card account balances for the customers of her bank and found that 20% have an outstanding balance that is at the credit card limit. Suppose the manager randomly selects 15 customers and finds 4 that have balances at the limit. Assume that the properties of the binomial distribution apply. (i) What is the probability of finding 4 customers in a sample of 15 who have "maxed out" their credit cards? Answer: 0.1876 (ii) What is the probability that 4 or fewer customers in the sample will have balances at the limit of the credit card? Answer: 0.8357 3. Use the binomial formula to calculate the following probabilities for an experiment in which n = 5 and p = 0.4:

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This note was uploaded on 02/10/2012 for the course MGT 101 taught by Professor Staff during the Fall '10 term at Texas State.

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Binomial distribution - Distribution of Binomials Qmst 2333...

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