A random variable following a binomial distribution over trials with success probability has PMF
Because it's a proper probability distribution, you know that the sum of all the probabilities over the distribution's support must be 1, i.e.
The mean is given by the expected value of the distribution,
The remaining sum has a summand which is the PMF of yet another binomial distribution with trials and the same success probability, so the sum is 1 and you're left with
You can similarly derive the variance by computing , but I'll leave that as an exercise for you. You would find that , so the variance here would be
The standard deviation is just the square root of the variance, which is
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation , the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
a. Highest 20 percent
At least X
100-20 = 80
So X is the 80th percentile, which is X when Z has a pvalue of 0.8. So X when Z = 0.842.