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13th Edition

Anderson

Publisher: CENGAGE L

ISBN: 9781305881884

Chapter 5, Problem 67SE

Textbook Problem

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PBS *News Hour* reported that 39.4% of Americans between the ages of 25 and 64 have at least a two-year college degree (PBS website, December 15, 2014). Assume that 50 Americans between the ages of 25 and 64 are selected randomly.

- a. What is the expected number of people with at least a two-year college-degree?
- b. What are the variance and standard deviation for the number of people with at least a two-year college degree?

**a.**

To determine

Compute the expected number of people with at least a two year college degree.

**Calculation:**

It was found that 39.4% of the Americans between the ages 25 and 24 have at least a two year college degree. A random sample of 50 American’s is taken.

Define the random variable *x* as the number of Americans between the ages 25 and 24 have at least a two year college degree. Here, a random sample (*n*) of 50 Americans is taken. Each adult is independent of the other. Also, there are two possible outcomes the American have at least a two year college degree or not (success or failure). It was found that 39.4% of the Americans between the ages 25 and 24 have at least a two year college degree. Thus, the probability of success (*p*) is 0.394. Thus, *x* follows binomial distribution...

**b.**

To determine

Compute the variance and standard deviation for the number of people with at least a two year college degree.

STATISTICS F/BUSINESS+ECONOMICS-TEXT

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