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.
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?