Home, Regional, Company, Were, percent, utility, electric, Included, Occupations, listed, stockholders


Question by Mike:

The listed occupations of stockholders of a regional electric utility company included 8 percent who were home?

The listed occupations of stockholders of a regional electric utility company included 8 percent who were homemakers. If 6 of these stockholders are randomly selected, what is the probability that exactly 4 are homemakers? Enter your answer to at least 3 decimal places.




Best answer:

Answer by M3
this is a case of the binomial distribution
n = number of "trials" = 6
p = probability of "success" in a single trial = .08
q = 1 - p = probability of "failure" in a single trial = .92

the formula for k successes in n trials is

P[k] = nCk*p^k*q^(n-k)

P[4] = 6C2*.08^4*.92^2

= 0.00052 or 0.052 %

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