3. Calculating Parameters & Addressing Assumptions According to Smallbiztrends.com, 82% of small businesses that fail, do so because of cash flow problems. Use appropriate titles, labels, and units as you complete the following: If you take a sample of 20 random small businesses, what is the probability that exactly 12 will fail because of cash flow problems? Find the mean for this sample. Find the standard deviation for this sample. What are the boundary values that would determine unusual values for small business failure- for this sample?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
icon
Related questions
Question
100%

Questions in the image attached. Please help me solve step by step with ti84 plus/calculator functions when possible. Please write legibly. Thank you! 

3. Calculating Parameters & Addressing Assumptions
According to Smallbiztrends.com, 82% of small businesses that fail, do so because of cash flow
problems.
Use appropriate titles, labels, and units as you complete the following:
If you take a sample of 20 random small businesses, what is the probability that exactly 12
will fail because of cash flow problems?
Find the mean for this sample.
Find the standard deviation for this sample.
What are the boundary values that would determine unusual values for small business failures
for this sample?
Transcribed Image Text:3. Calculating Parameters & Addressing Assumptions According to Smallbiztrends.com, 82% of small businesses that fail, do so because of cash flow problems. Use appropriate titles, labels, and units as you complete the following: If you take a sample of 20 random small businesses, what is the probability that exactly 12 will fail because of cash flow problems? Find the mean for this sample. Find the standard deviation for this sample. What are the boundary values that would determine unusual values for small business failures for this sample?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Searching and Sorting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill