1. A company establishes a fund of 120 from which to pay an amount, C, to any of its 20 employees who achieve a high performance level during the coming year. Each employee has a 2% chance of achieving a high performance level during the coming

year, independent of any other employee. Determine the maximum value of C for which the probability is less than 1% that the fund will be inadequate to cover all payment for high performance.

a. Find E[(3X+4)(7-2X)] if X has a binomial distribution with n = 50 and p = .96\

This is the FULL question * I have already answered #1 but I need help/answer on a. but I am providing it in case it helps you answer. The answer for #1 is C=60