Thang decided to borrow $7000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 7
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Answer:
The probability of success for this case would be:
representing the proportion of homes that are own homes
Let X the random variable of interest, on this case we now that:
The probability mass function for the Binomial distribution is given as:
Where (nCx) means combinatory and it's given by this formula:
And we want this probability:
And uing the probability mass function we got:
Step-by-step explanation:
Adduming the following info: In a list of 15 households, 9 own homes and 6 do not own homes. Five households are randomly selected from these 15 households. Find the probability that the number of households in these 5 own homes is exactly 3.
Round your answer to four decimal places
P (exactly 3)=
Previous concepts
The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".
Solution to the problem
The probability of success for this case would be:
representing the proportion of homes that are own homes
Let X the random variable of interest, on this case we now that:
The probability mass function for the Binomial distribution is given as:
Where (nCx) means combinatory and it's given by this formula:
And we want this probability:
And uing the probability mass function we got: