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File Edit View History Bookmarks Develop Window Help tion.com ing for beginners #6/Putting an Asset on the Balance Sheet A Statistics Textbook Chapter Contains 67 Exercise. US ss Sta BUSINESS STATISTICSS Spring 2018 MW 5:30 term 1 Question 6 (of 21) The probability that an American CEO can transact business in a foreign language is 40. Fourteen (e) What is the probability that none can transact business in a toreign language? (Round your answer to American CEOs are chosen at random. 4 decimal places.) Probability (b) What is the probability that at least two can transact business in a foreign language? (Round your answer to 4 decimal places.) (c) What is the probability that all 14 10 decimal places.)

Explanation / Answer

X ~ Binomial(n,p)

Where n = 14 , p = 0.40

P(X) = nCx px (1-p)n-x

a)

P(X = 0) = 14C0 0.400 0.6014

= 0.0008

b)

P( X >= 2) = 1 - p( X <= 1 )

= 1 - { P ( X = 0) + P( X = 1) }

= 1 - { 14C0 0.400 0.6014 + 14C1 0.401 0.6013 }

= 1 - 0.0081

= 0.9919

c)

P( X = 14) = 14C14 0.4014 0.600

= 0.0000026844

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