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clcharleston clcharleston
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Posts: 835
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6 years ago
Approximate the following binomial probabilities by the use of normal approximation. Eight percent of customers of a bank keep a minimum balance of 500 in their checking accounts. What is the probability that in a random sample of 100 customers
 a. exactly 6 keep the minimum balance of 500?
  b. exactly 11 keep the minimum balance of 500?
  c. 6 or fewer keep the minimum balance of 500?
  d. 5 or more keep the minimum balance of 500?
  e. 10 or fewer keep the minimum balance of 500?
  f. 11 or fewer keep the minimum balance of 500?
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Replies
wrote...
6 years ago
a. 0.1124
b. 0.0803
c. 0.2912
d. 0.9015
e. 0.8212
f. 0.9015
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