The vertical axis of a demand curve shows
2 answers:
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Answer:
0.0803 = 8.03% probability that the number who have a high school degree as their highest educational level is exactly 32.
Step-by-step explanation:
For each adult, there are only two possible outcomes. Either they have a high school degree as their highest educational level, or they do not. The probability of an adult having it is independent of any other adult. This means that the binomial probability distribution is used to solve this question.
Binomial probability distribution
The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.
In which is the number of different combinations of x objects from a set of n elements, given by the following formula.
And p is the probability of X happening.
30.4% of U.S. adults 25 years old or older have a high school degree as their highest educational level.
This means that
100 such adults
This means that
Determine the probability that the number who have a high school degree as their highest educational level is a. Exactly 32
This is P(X = 32).
0.0803 = 8.03% probability that the number who have a high school degree as their highest educational level is exactly 32.
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