nts: 6 7) Investing is a game of chance. Suppose there is a 33% chance that a ri

Question

nts: 6 7) Investing is a game of chance. Suppose there is a 33% chance that a risky stock investment will end u total loss of your investment. Because the rewards are so high, you decide to invest in five independe stocks. Find the probability that at least one of your five investments becomes a total loss. Round to nearest ten-thousandth when necessary indicated probability. Give your answer as a decimal rounded to the nearest thousandth. A local country club has a membership of 600 and operates facilities that include an 18-hole golf course and 12 tennis courts. Before deciding whether to accept new members, the club like to know how many members regularly use each facility. A survey of the membership in regularly use the golf course, 407 ularly use the tennis courts, and 4% use both of these regularly. Given that a randomly s ted member uses the tennis courts regularly, find the they also use the golf course regul

Explanation / Answer

7)

X ~ Binomial (n,p)

Where n = 5 , p = 0.33

Binomial probability distribution is

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

We have to calculate P( X >= 1)= ?

P( X >= 1) = 1 - p( X = 0)

= 1 - 5C0 0.330 0.675

= 0.8650

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