Answer:
c) $136,800
Step-by-step explanation:
Since the thing is 3 years and in 3 year there are 36 months. And since $3,800/mo so 36 x 3,800 = 136,800
So the answer is $136,800
Answer:
P (X ≤ 4)
Step-by-step explanation:
The binomial probability formula can be used to find the probability of a binomial experiment for a specific number of successes. It <em>does not</em> find the probability for a <em>range</em> of successes, as in this case.
The <em>range</em> "x≤4" means x = 0 <em>or</em> x = 1 <em>or </em>x = 2 <em>or</em> x = 3 <em>or</em> x = 4, so there are five different probability calculations to do.
To to find the total probability, we use the addition rule that states that the probabilities of different events can be added to find the probability for the entire set of events only if the events are <em>Mutually Exclusive</em>. The outcomes of a binomial experiment are mutually exclusive for any value of x between zero and n, as long as n and p don't change, so we're allowed to add the five calculated probabilities together to find the total probability.
The probability that x ≤ 4 can be written as P (X ≤ 4) or as P (X = 0 or X = 1 or X = 2 or X = 3 or X = 4) which means (because of the addition rule) that P(x ≤ 4) = P(x = 0) + P(x = 1) + P (x = 2) + P (x = 3) + P (x = 4)
Therefore, the probability of x<4 successes is P (X ≤ 4)
Graph will look like this if this is one of the options
