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Question 7 (4 points) The brand name of a certain chain of coffee shops has a 60% recognition rate in the town of Coffeeton. (In other words, a person selected at random knows about the chain with a probability of 0.6.) An executive from the company wants to verify the recognition rate as the company is interested in opening a coffee shop in the town. He/she selects a random sample of 5 Coffeeton residents. a) Find the (approximate) value of the probability that exactly 3 out of the 5 Coffeeton residents recognize the brand name. Question 7 options: 0.3456 0.2 C C 0.2765 Question 8 (5 points) The brand name of a certain chain of coffee shops has a 60% recognition rate in the town of Coffeeton. (In other words, a person selected at random knows about the chain with a probability of 0.6.) An executive from the company wants to verify the recognition rate as the company is interested in opening a coffee shop in the town. He/she selects a random sample of 5 Coffeeton residents. Let X be the number of people (out of five above) who will recognize the chain. b) Find the mean and standard deviation of X. Question 8 options: 3, approx. 1.1 C 3, 2 5, 2 C 2, appox. 1.2