It is estimated that 88% of the Vancouver residents have lost their income (from a small fraction to 100% of the income) due to the COVID-19 pandemic lockdown in the summer months of 2020 (May to August). That means about 12% of all Vancouver residents did not lose any of their income. A random sample of 15 Vancouver residents was drawn. a) Suppose the trials are independent in this situation. Provide an interpretation of its meaning. Please pay special attention to the details you are expected to provide. b) Define the Binomial random variable. c) Assuming that this is a proper Binomial experiment, calculate the probability that at least 12 Vancouver residents (from the sample of size 15) who have lost their income during the lockdown. Feel free to use Excel to attempt this question. Keep 4 decimal places. d) Assuming that this is a proper Binomial experiment, calculate the probability that more than 8 but less than 13 Vancouver residents (from the sample of size 15) who have lost their income during the lockdown. Feel free to use Excel to attempt this question. Keep 4 decimal places. e) Assuming that this is a proper Binomial experiment, provide an interpretation of the expected value of 13.2. Note: No calculation is required