Draw a number line and mark all described points. 0•X=0

For each adult, there are only two possible outcomes. Either they save nothing for retirement, or they save something. The probability of an adult saving nothing for retirement 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.

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

In which $C_{n,x}$ is the number of different combinations of x objects from a set of n elements, given by the following formula.

$C_{n,x} = \frac{n!}{x!(n-x)!}$

And p is the probability of X happening.

20% of adults in the United States save nothing for retirement (CNBC website).

This means that $p = 0.2$

Suppose that sixteen adults in the United States are selected randomly.

This means that $n = 16$

What is the probability that three or less of the selected adults have saved nothing for retirement?

This is:

$P(X \leq 3) = P(X = 0) + P(X = 1) + P(X = 2) + P(X = 3)$

In which

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

$P(X = 0) = C_{16,0}.(0.2)^{0}.(0.8)^{16} = 0.0281$

$P(X = 1) = C_{16,1}.(0.2)^{1}.(0.8)^{15} = 0.1126$

$P(X = 2) = C_{16,2}.(0.2)^{2}.(0.8)^{14} = 0.2111$

$P(X = 3) = C_{16,3}.(0.2)^{3}.(0.8)^{13} = 0.2463$

$P(X \leq 3) = P(X = 0) + P(X = 1) + P(X = 2) + P(X = 3) = 0.0281 + 0.1126 + 0.2111 + 0.2463 = 0.5981$

0.5981 = 59.81% probability that three or less of the selected adults have saved nothing for retirement

4 0

3 years ago

What are the two conditions that an asset of a business needs to fulfill?

Darina [25.2K]

Answer:

<h2>✒️Answer:</h2>

<u>Two conditions must be satisfied. First, the revenue must be earned, which typically means that the customer has received the good or service. Second, the revenue must have been realized or realizable, implying that the customer has paid or is expected to pay for the merchandise.</u>

Step-by-step explanation:

<h2>#CarryOnLearning</h2>

$watch.some.anime$

4 0

2 years ago

Kite EFGH is inscribed in a rectangle where F and H are midpoints of parallel sides. The area of EFGH is 35 square units. What i

sasho [114]

*see attachment for the figure described

Answer:

5 units

Step-by-step explanation:

==>Given the figure attached below, let where FH and EG intercepted be K.

Since FH are midpoints of parallel lines, KE = KG = x.

Given that the area of the kite EFGH = 35 square units, and we know the length of one of the diagonals = HF = KF + KH = 2 + 5 = 7, we can solve for x using the formula for the area of a kite.

Area of kite = ½ × d1 × d2

Where d1 = KH = 7

d2 = EG = KE + KG = x + x = 2x

Area of kite EFGH = 35

THUS:

35 = ½ × 7 × 2x

35 = 1 × 7 × x

35 = 7x

Divide both sides by 7

35/7 = x

x = 5

4 0

3 years ago