A labor department reported that about one-third of eligible workers haven't enrolled in their employers' 401(k) plans. A company has been contemplating new incentives to encourage more participation from its employees. Of 17 the employees in the company's automotive department, 6 have enrolled in a 401(k) plan. The store manager has randomly selected 8 of the automotive department employees to receive investment training. Complete parts a through c below. a. Calculate the probability that all of the employees currently enrolled in the 401(k) program are selected for the investment training. Calculate the probability that none of the employees currently enrolled in the 401K program is selected for the investment training? Compute the probability that more than half of the employees currently enrolled in the 401K program are selected for the investment training?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
A labor department reported that about one-third of eligible workers haven't enrolled in their employers' 401(k) plans. A company has been contemplating new incentives to encourage more participation from its employees. Of 17 the employees in the company's automotive department, 6 have enrolled in a 401(k) plan. The store manager has randomly selected 8 of the automotive department employees to receive investment training. Complete parts a through c below.
a. Calculate the
Calculate the probability that none of the employees currently enrolled in the 401K program is selected for the investment training?
Compute the probability that more than half of the employees currently enrolled in the 401K program are selected for the investment training?
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