Question
Use the following to answer these questions: 60% of people plan to spend money on traveling over the summer months. Suppose we take a sample
Use the following to answer these questions:
60% of people plan to spend money on traveling over the summer months. Suppose we take a sample of 12 people.
How many people are expected to spend money on traveling out of the 12?
a. 7.2
b. 7.0
c. 8.0
d. 4.8
What is the standard deviation of this distribution?
a. 2.88
b. 4.32
c. 2.0785
d. 1.6971
What is the probability that 10 people will spend money on traveling?
a. 0.6000
b. 0.0060
c. 0.0639
d. 0.0718
What is the probability that less than 10 people will spend money on traveling?
a. 0.9165
b. 0.0196
c. 0.0835
d. 0.9361
Step by Step Solution
3.47 Rating (150 Votes )
There are 3 Steps involved in it
Step: 1
P 06 n 12 a EX np 12x06 72 b SD ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Quantitative Investment Analysis
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
3rd edition
111910422X, 978-1119104544, 1119104548, 978-1119104223
Students also viewed these Organizational Behavior questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App