Business Ethics: Privacy Are your finances, buying habits, medical records, and

Question

Business Ethics: Privacy Are your finances, buying habits, medical records, and phone calls really private? A real concern for many adults is that com- puters and the Internet are reducing privacy. A survey conducted by Peter D. Hart Research Associates for the Shell Poll was reported in USA Today According to the survey, 37% of adults are concerned that employers are monitoring phone calls. Use the binomial distribution formula to calculate the probability that (a) out of five adults, none is concerned that employers are monitoring 2 phone calls. phone calls. ing phone calls. (b) out of five adults, all are concerned that employers are monitoring (c) out of five adults, exactly three are concerned that employers are

Explanation / Answer

Solution:-

p = 0.37

a) Out of five, none is concerned that employers are monitoring phone calls is 0.09924.

n = 5, x = 0

By applying binomial distribution:-

P(x, n) = nCxpx*(1-p)(n-x)

P(x = 0) = 0.09924

b) Out of five, all are concerned that employers are monitoring phone calls is 0.006934.

n = 5, x = 5

By applying binomial distribution:-

P(x, n) = nCxpx*(1-p)(n-x)

P(x =5) = 0.006934

c) Out of five, exactly three are concerned that employers are monitoring phone calls is 0.201.

n = 5, x = 3

By applying binomial distribution:-

P(x, n) = nCxpx*(1-p)(n-x)

P(x = 3) = 0.201

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