Hi can you explain these please.

Question 2. Economists believe that asset markets sometimes take the stairs or; and the elevator down. That is, periods of slowly rising asset prices are interspersed with occasional crashes. Suppose after examining monthly data in a particular market. in two-day segments to control for dependence between days due to time zones, a business economist concludes that the probability of the market taking a small positive step each pair of days is Binomial: I ~ HinEn,p} with n = 15 and p = I115. The n=15 covers a month because each draw is a 2-day pair. Since it is Binomial you can assume that the ttchange each pair of days is independent from any other pair. 1. Compute PUE = 10), using the pdf formula. 2. Compute P{X E 14), using the binomial table. 3. Verify your answers using Excel. 4. Why is the assumption of independence of day-pairs important in the Binomial formula that the business economist uses [you may like to use the example of tossing a coin twice to help explain}