QUESTION 3 (15 marks) A recent study shows that on average 20% of employees in the...

QUESTION 3

A recent study shows that on average 20% of employees in the work population prefer their vacation time during March break. Vincent Company employs 56 people. Use the normal approximation to the binomial distribution to answer the questions below:

Required:

Determine the expected value, and the standard deviation of that value, of the number of Vincent Company employees who would prefer their vacation time during March break. ( 3 marks)

What is the probability that more than ten Vincent Company employees will prefer their vacation during March break? Sketch a normal curve and shade the desired area of your diagram. ( 4 marks)

What is the probability that exactly ten Vincent Company employees will prefer their vacation during March break? Sketch a normal curve and shade the desired area of your diagram. ( 4 marks)
What is the probability that more than five, but less than nine, Vincent Company employees will prefer their vacation during March break? Sketch a normal curve and shade the desired area of your diagram. ( 4 marks)

Expert Solution

Here we use the continuity correction factor to calculate the required probabilities.

orchestra answered 1 year ago

A recent study shows that on average 21% of employees in the work population prefer their vacation time during March break.

A recent study shows that on average 21% of employees in the work population prefer their vacation time during March break. Vincent Company employs 55 people. Use the normal approximation to the binomial distribution to answer the questions below: Required: Determine the expected value, and the standard deviation of that value, of the number of Vincent Company employees who would prefer their vacation time during March break. What is the probability that more than nine Vincent Company employees will...

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