About 40% of new single-family homes completed in the United States during 2007 were heated with electricity.
Question:
a. Calculate the mean and standard deviation of the binomial distribution.
b. Using the binomial distribution tables, determine the probability that x will be exactly 8 homes heated with electricity.
c. Using the binomial distribution tables, determine the probability that x will be at least 6 but no more than 9 homes.
d. Repeat part (b), using the normal approximation to the binomial distribution.
e. Repeat part (c), using the normal approximation to the binomial distribution.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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