According to the American Community Survey, 27% of residents of the United States 25 years old or older had earned a bachelor degree. Suppose you select 12 residents of the United States 25 years old or older and recorded the number who had earned a bachelor degree.Round probabilities to 4 decimal places.

1.Explain why this is a binomial experiment.

2.Find and interpret the probability that exactly 5 of them had a bachelor degree.

3.Find and interpret the probability that fewer than 5 of them had a bachelor degree.

4.Find and interpret the probability that at least 5 of them had a bachelor degree.

5.Compute the mean and standard deviation of the binomial random variable.