75% percent of households say they would feel secure if they had $50,000 in savi

Statistics
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75% percent of households say they would feel secure if they had $50,000 in savings. You randomly select 8 households and ask them if they would feel secure if they had $50,000 in savings. Find the probability that the number that they say they would feel secure is (a) exactly five, (b) more than five, (c) at most five.

P(5)=
P(x>5)=
P(x≤5)=

Mar 25th, 2015

p = 0.75 use binomial distribution with n = 8 and q = 1 - 0.75 = 0.25

Then P(x=5) = 8 C 5 * 0.75^5 * 0.25^3 = 0.2076

P(x<= 5) = P(0) + P(1) + ... + P(5) = 0.3215

P(x>5) = 1 - 0.3215 = 0.6785

Mar 25th, 2015

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