According to the Graduate Management Admission Council, applications to two year MBA programs have been on the decline during the past few years. A survey during 2012 reported that 62% of U. S. schools experienced fewer applications when compared to 2011. A random sample of eight U. S. schools with a two year MBA program was selected.

a. What is the probability that exactly two schools from this sample experienced a decline in applications in 2012?

b. What is the probability that more than five schools from this sample experienced a decline in applications in 2012?

c. What is the probability that three or fewer schools from this sample experienced a decline in applications in 2012?

d. What are the mean and standard deviation for this distribution?

e. Construct a histogram for this distribution.