Using the binomial distribution with order statistics
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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)
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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.
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