Question

Write in an Excel cell the appropriate @RISK function for a binomial distribution that results from 50 trials with probability of success 0.3 on each trial. Then click on the Define Distributions button to draw the distribution. What function did you use to get the output

Answer 1

Answer:

Binomial Function

I got my output using the formula = 1 - BINOMDIST (17, 50, 0.3, TRUE)

Then got the cumulative probability distribution at 17 to be 0.2178

Explanation:

To draw a normal distribution:

1. Got to '@risk' and click on 'defined distribution'

2. Select 'binomial' in function block

3. enter formula in cell formula and click okay

The use of @RISK to draw a binomial distribution of 50 trials and probability of success as 0.3 by entering formular =RISKBINOMIAL (50, 0.3).