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Random Sample - An American Society of Investors survey found 30 percent

An American Society of Investors survey found 30 percent of individual investors have used a discount broker. In a random sample of nine individuals, what is the probability.

a. Exactly two of the sampled individuals have used a discount broker

b. Exactly four of them used a discount broker.

c. None of them used a discount broker.

Solution Preview

Let X be the number of individuals who have used a discount broker. Then we know that X follows a binomial distribution ...

Solution Summary

An American Society of Investors survey found 30 percent of individual investors have used a discount broker. In a random sample of nine individuals, what is the probability.

$2.19