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)

Solutions

Expert Solution

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

orchestra answered 11 months ago

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