Question

Suppose 30% of business majors major in accounting. You take a random sample of 3 business majors. Answer questions 39 and 40: What is the chance that at least one student majors in accounting?

Answer 1

Answer:

The probability that at least one student majors in accounting=0.3×0.3×0.3=0.027

Explanation:

Step 1: Determine the number of accounting majors in a business

N=P×S

where;

N=number of accounting majors

P=probability of accounting majors

S=sample size

This can also be written as;

Number of accounting majors=probability of accounting majors×sample size

In our case;

Number of accounting majors=unknown, to be determined

Probability of accounting majors=30%=30/100=0.3

Sample size=3 business majors

Substituting;

Number of accounting majors=0.3×3=0.9

Step 2: Determine the chance that at least one student majors in accounting

The probability that at least one student majors in accounting=0.3×0.3×0.3=0.027