Last year, Hong opened an investment account with $6200 . At the end of the year, the amount in the account had decreased by 29.
1 answer:
You might be interested in
The probability of the success will be 0.3826.
<h3>What is binomial distribution?</h3>Bernoulli's trials are those trials which end up randomly either on success (with probability p) or on failures (with probability 1- p = q (say))
The probability that out of n trials, there'd be x successes is given by
We have
n = 8
p = 0.1
q = 1 – 0.1 = 0.9
x = 1
Then we have
P(1) = ⁸C₁ x (0.1)¹ x (0.9)⁷
P(1) = 0.3826
Learn more about binomial distribution here:
#SPJ1