Question
East End Analytics, LLC is a consulting business operated by Dr. Stockman and one of her former graduate school colleagues.In a typical year, EEA responds
East End Analytics, LLC is a consulting business operated by Dr. Stockman and one of her former graduate school colleagues.In a typical year, EEA responds to 12 requests for proposals (RFPs) in hopes of obtaining business.Each RFP results in either a 'success' (EEA is awarded the contract) or a 'failure' (EEA does not win the business).Assume that the outcomes follow the binomial distribution with the probability of success equal to 0.5.
a.What is the probability of exactly 5 successful RFPs?
b.What is the probability of at least 4 but not more than 9 successful RFPs?
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