In the general population, 10% of households own stocks. For a randomly chosen group of 10 households, let X be the number of those who own stocks. (a) Find the probability that X equals 8. (b) Find the mean and standard deviation of X. (c) What assumptions are necessary for the Binomial distribution to be applicable?
In the general population, 10% of households own stocks. For a randomly chosen group of 10 households, let X be the number of those who own stocks. (a) Find the probability that X equals 8. (b) Find the mean and standard deviation of X. (c) What assumptions are necessary for the Binomial distribution to be applicable?
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
Question
Transcribed Image Text:In the general population, 10% of households own stocks. For a randomly
chosen group of 10 households, let X be the number of those who own
stocks.
(a) Find the probability that X equals 8.
(b) Find the mean and standard deviation of X.
(c) What assumptions are necessary for the Binomial distribution to
be applicable?
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