In: Statistics and Probability
Let X be a binomial random variable with parameters n = 5 and p = 0.6.
a) What is P(X ≥ 1)?
b) What is the mean of X?
c) What is the standard deviation of X? (Show work)
Solution:
a)
By using excel,
P(X 1 ) = 1 - P(X < 1 )
=1- BINOM.DIST(1,5,0.6,TRUE)
= 1 - 0.0870
Probability = 0.9130
b)
Mean = = n*P = 5 * 0.6 = 3
c)
Standard deviation = =n*p*(1-p) = 1.2 = 1.0954