Question

•Exercise 1: It is assumed that 80% of the students pass the MBA 510 course. Calculate the following for a class of 15 students:

(a) the mean number of students expected to pass;

(b) the standard deviation;

(c) P(exactly 12 of the 15 students pass);

(d) P(at least 12 of the 15 students pass).

•Exercise 2: Five customers enter a store and make independent purchase decisions. The store’s records indicate that 20% of all customers who enter the store will make a purchase.         

(a) Does a general discrete probability distribution or the binomial distribution apply?

(b) Write the probability form applicable.  

Calculate the probability that:

(c) exactly 4 customers will make a purchase;

(d) less than 3 customers will make a purchase.

Please show all the work in Excel or Word.

Answer 1