Bundle: Modern Business Statistics with Microsoft Office Excel, Loose-Leaf Version, 6th + MindTap Business Statistics, 2 terms (12 months) Printed Access Card
Bundle: Modern Business Statistics with Microsoft Office Excel, Loose-Leaf Version, 6th + MindTap Business Statistics, 2 terms (12 months) Printed Access Card
6th Edition
ISBN: 9781337589383
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: Cengage Learning
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Textbook Question
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Chapter 5.5, Problem 33E

Consider a binomial experiment with n = 20 and p = .70.

  1. a. Compute f(12).
  2. b. Compute f(16).
  3. c. Compute P(x ≥ 16).
  4. d. Compute P(x ≤ 15).
  5. e. Compute E(x).
  6. f. Compute Var (x) and σ.

a.

Expert Solution
Check Mark
To determine

Find the value of f(12).

Answer to Problem 33E

The value of f(12) is 0.1144.

Explanation of Solution

Calculation:

The binomial experiment with n=20 and p=0.70.

The probability of obtaining x successes in n independent trails of a binomial experiment is,

f(x)=(nx)px(1p)nx,x=0,1,2,...,n

Where, p is the probability of success.

Substitute values n=20 and p=0.70 and x=12.

f(12)=(2012)(0.70)12(10.70)2012=20!12!(2012)!(0.70)12(0.30)8=0.1144

Thus, the probability of 12 successes is 0.1144.

b.

Expert Solution
Check Mark
To determine

Find the value of, f(16).

Answer to Problem 33E

The value of, f(16) is 0.1304.

Explanation of Solution

Calculation:

Consider n=20 and p=0.70 and x=16.

f(16)=(2016)(0.70)16(10.70)2016=20!16!(2016)!(0.70)16(0.30)4=0.1304

Thus, the probability of 16 successes is 0.1304.

c.

Expert Solution
Check Mark
To determine

Find the value of, P(x16).

Answer to Problem 33E

The value of P(x16) is 0.2374.

Explanation of Solution

Calculation:

Here, P(x16) is the probability of at least 16 successes. This probability is the sum of the probabilities at the points x=16,x=17,x=18,x=19 and x=20. That is,

P(x16)=f(16)+f(17)+f(18)+f(19)+f(20)

The probability f(17) is obtained by substituting the values n=20 and p=0.70 and x=17 in the binomial probability formula. That is,

The probability value of f(17) is,

f(17)=(2017)(0.70)17(10.70)2017=20!17!(2017)!(0.70)17(0.30)3=0.0716

The probability value of f(18) is,

f(18)=(2018)(0.70)18(10.70)2018=20!18!(2018)!(0.70)18(0.30)2=0.0278

The probability value of f(19) is,

f(19)=(2019)(0.70)19(10.70)2019=20!19!(2019)!(0.70)19(0.30)1=0.0068

The probability value of f(20) is,

f(20)=(2020)(0.70)20(10.70)2020=20!20!(2020)!(0.70)20(0.30)0=0.0008

The required probability becomes,

P(x16)=f(16)+f(17)+f(18)+f(19)+f(20)=0.1304+0.0716+0.0278+0.0068+0.0008=0.2374

Thus, the probability of at least 16 successes is 0.2374.

d.

Expert Solution
Check Mark
To determine

Find the value of, P(x15).

Answer to Problem 33E

The value of P(x15) is 0.7626.

Explanation of Solution

Calculation:

The required probability of at most 15 successes can be obtained as the compliment of the probability of at least 15 successes. That is,

P(x15)=1P(x16)

Substituting the value from part (c),

P(x15)=1P(x16)=10.2374=0.7626

Thus, the probability of at most 15 successes is 0.7626.

e.

Expert Solution
Check Mark
To determine

Compute the expected value.

Answer to Problem 33E

The expected value of the binomial random variable is 14.

Explanation of Solution

Calculation:

The expected value of a binomial random variable is given by,

E(x)=μ=np

Substituting the values n=20 and p=0.70

E(x)=20×0.70=14

The expected value of the binomial random variable is 14.

f.

Expert Solution
Check Mark
To determine

Compute the variance and standard deviation.

Answer to Problem 33E

The variance of the binomial random variable is 4.2.

The standard deviation of the binomial random variable is 2.0494.

Explanation of Solution

Calculation:

The variance of a binomial random variable is given by,

σ2=np(1p)

Substituting the values n=20 and p=0.70

σ2=np(1p)=20×0.7(10.7)=4.2

The variance of the binomial random variable is 4.2.

The standard deviation of the random variable x is obtained by taking the square root of variance.

Thus, the standard deviation of the binomial random variable is given by,

σx=np(1p)=0.42=2.0494

The standard deviation of the binomial random variable is 2.0494.

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Chapter 5 Solutions

Bundle: Modern Business Statistics with Microsoft Office Excel, Loose-Leaf Version, 6th + MindTap Business Statistics, 2 terms (12 months) Printed Access Card

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