1) Assuming the binomial distribution is appropriate, if N = 6 and P = 0.50, the probability of getting exactly 5 P events = _________. I have no...
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1) Assuming the binomial distribution is appropriate, if  N = 6 and P = 0.50, the

probability of getting exactly 5 P events = _________.

I have no clue what formula to use to get the answer.

2)During the past 5 years there has been an inflationary trend. Listed below is the average cost of a gallon of milk for each year.

1981 \$1.10

1982 \$1.23

1983 \$1.30

1984 \$1.50

1985 \$1.65

Assuming a linear relationship exists, and that the relationship continues unchanged through 1986, what would you predict for the average cost of a gallon of milk in 1986?

For this problem do i first find R using the pearson R formula?

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