Use Binomial Distribution for the following problems. 1. Find the probability of 3 successes among 5 trials if success probability is 0.09. 2. There is a 1% delinquency rate for consumers with FICO credit score above 800. We choose a random sample of 5 people with FICO score above 800. a) Find the probability 2 of them become delinquent. b) Find the probability that none of them become delinquent. c) Find the mean and the standard deviation of the distribution. d) Is it unusual to see 4 out of 5 people become delinquent? 3. About 7% of people in the world are known to have O negative blood type. Find the following probabilities in 4 trials. a) 3 have O negative blood type. b) All of them have O negative blood type. c) Is it unusual to find all of them have O negative blood type?

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Use Binomial Distribution for the following problems.
1. Find the probability of 3 successes among 5 trials if success probability is 0.09.
2. There is a 1% delinquency rate for consumers with FICO credit score above 800. We choose a
random sample of 5 people with FICO score above 800.
a) Find the probability 2 of them become delinquent.
b) Find the probability that none of them become delinquent.
c) Find the mean and the standard deviation of the distribution.
d) Is it unusual to see 4 out of 5 people become delinquent?
3. About 7% of people in
orld are known to have O negative blood type. Find the following
probabilities in 4 trials.
a) 3 have O negative blood type.
b) All of them have O negative blood type.
c) Is it unusual to find all of them have O negative blood type?
99+
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Transcribed Image Text:Use Binomial Distribution for the following problems. 1. Find the probability of 3 successes among 5 trials if success probability is 0.09. 2. There is a 1% delinquency rate for consumers with FICO credit score above 800. We choose a random sample of 5 people with FICO score above 800. a) Find the probability 2 of them become delinquent. b) Find the probability that none of them become delinquent. c) Find the mean and the standard deviation of the distribution. d) Is it unusual to see 4 out of 5 people become delinquent? 3. About 7% of people in orld are known to have O negative blood type. Find the following probabilities in 4 trials. a) 3 have O negative blood type. b) All of them have O negative blood type. c) Is it unusual to find all of them have O negative blood type? 99+ Desktop DELL F5 F6 F7 F8 F9 F10 F11 F12 PrtScr Ir & 5 8. 6.
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