Consider a binomial probability distribution with parameters n = 8 and p = 0.75. (a) Construct a

Question:

Consider a binomial probability distribution with parameters n = 8 and p = 0.75.

(a) Construct a binomial probability distribution with these parameters.

(b) Compute the mean and standard deviation of the distribution.
(c) Draw the probability histogram, comment on its shape, and label the mean on the histogram.

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...