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Using the binomial distribution with order statistics

Let Y1<...<Y8 be the order statistics of 8 independent observations of a continuous type distribution with 70th percentile 27.3.

a) Determine P(Y7<27.3)

b) Find P(Y5<27.3<Y8)

(See attachment for neater mathematical presentation of the question)


Solution Summary

The solution to the problem is presented as approximately 1 page written in Word using Mathtype for the equations.

Preceding the solution is an explanation of how to convert this particular question into a question about the binomial distribution. The numerical solutions are calculated using the Excel function BINOMDIST, and an explanation of how to use this function is included.