38% of college students say they use credit cards because of the rewards program. You randomly select 10 college students and ask each to name the reason he or she uses credit cards. Find the probability that the number of college students who say they use credit cards because exactly two, (b) more than two, and (c) between two and five inclusive. If convenient, use technology to find the probabilities. the rewards program is (a) (a) P(2)= (Round to the nearest thousandth as needed.) (b) P(x> 2) = (Round to the nearest thousandth as needed.) (c) P(2 sx55) = (Round to the nearest thousandth as needed.)
Given information:
Number of college students randomly selected, n = 10
Percentage of college students who say they use credit cards because of the rewards program = 38%
It is required to obtain the probability that the number of college students who say they use credit cards because of the rewards program is :
(a) exactly 2
(b) more than 2
(c) between 2 and 5 (inclusive)
Introduction:
The binomial distribution is a discrete type of probability distribution that consists of n independent trials. Each independent trial results in Boolean outcomes- success or failure. Every success and failure is distributed with their chance of occurrence denoted by p and q respectively.
The binomial probability deals with computing the chance of appearance of exactly x success out of these n trials given by:
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
