Excel Activity #2 — Chapter 4 5 Instructions:
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Business Finance
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Find Part I & II, below, utilizing Excel and the Excel skills you ascertained from STAT 1102. Print your results in a well formatted professional manner. All formulas/equations utilized within Excel need be pasted within a Word Document, printed, and submitted with your Excel results (i.e. if you instructed a specific cell within Excel to make a specific calculation, for example Cell C2 is set to "=AVERAGE(range...)", then on a Word Doc list: 1.Cell C2 = "=AVERAGE(range...)" 2..... 3..... The activity is due 7.19 at classes beginning. Part 1—Binomial Probability in Excel: The number of left-handed students follows a binomial distribution, and the probability that an individual is left-handed is 0.14. In a class of 70 students, what is the probability that: 1. Exactly 10 of them are left-handed? 2. More than 15 of them are left handed? 3. At most 12 of them are left-handed? Part 2—Normal Probability in Excel: A study found that the average wait time in a McDonald’s drive-thru is 4 minutes and the standard deviation is 1.2 minutes. It is also known that the distribution of these times is normal. 1. What is the probability that a person waits over 6 minutes? 2. What is the probability that a person waits between 2.5 and 3.5 minutes? 3. Someone claimed that only 10% of people waited longer than they did. If this is true, how many minutes did they wait? 4. Suppose you sampled 40 people from the McDonald’s drive-thru. What is the probability that you get an average wait time less than 4.2 minutes?
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