A business calculates that 60% of its suppliers are UK-based. Every month it randomly selects 8 of its suppliers and checks theircompliance with money-laundering legislation. It defines the random variable X to represent how many of the 8 selected supplieare UK-based.This scenario is modelled with a Binomial distribution denoted X- Bin(n, p).(a) State the value of n(b) State the value of p, writing your answer as a decimal to 1 decimal place.(c) How many combinations of 5 UK-based suppliers are possible within the set of 8 suppliers selected for the compliance checks?(d) Calculate the probability that there are exactly 5 UK-based suppliers within the set of 8 suppliers selected for the compliance checks.Answer to 2 decimal places.

Given that Probability of its suppliers are UK-based=68% X=Number of supplies are UK-based…

Answered: A business calculates that 60% of its…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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