MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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39.9% of consumers believe that cash will be obsolete in the next 20 years. Assume that 6 consumers are randomly selected. Find the probability that fewer than 3 of the selected consumers believe that cash will be obsolete in the next 2 years.

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Givenconsumers believe that cash will be obsolete in the next 20 years(p)=0.399sample size(n)=6Let "x" be the consumers believe that cash will be absolute in the next 2 yearsx~Binomial(n=6,p=0.399)P(X=x)=(nx)×px×(1-p)n-x   ; x=0,1,....,nP(X=x)=(6x)×0.399x×(1-0.399)6-x

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