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Thread: can you help with this as well!?

  1. #1
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    can you help with this as well!?




    Suppose that 20% of all subscribers to a business magazine earn an income
    greater than $100,000. If the magazine takes a random sample of 20 subscribers:
    (a) What is the probability that
    (i) none of the 20 subscribers earn more than $100,000.
    (ii) half of the 20 subscribers earn more than $100,000.
    (iii) 5 or fewer of the 20 subscribers earn more than $100,000.
    (b) (i) Find the expected number of subscribers in the sample who earn more than
    $100,000.
    (ii) Find the variance of the number of subscribers in the sample who earn more
    than $100,000

    thanks Im not very good at stats

  2. #2
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    Check in the Examples Section on binomial probability distributions on this site. This problem is very similar to my example.

    The binomial formula will work here.

    The expected value, or mean of the binomial is n*p, and the variance is n*p*q.

  3. #3
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    Ok so is this right??

    a)

    i) P (no subscriber earn > 100000) = P(0) = 0.0115

    ii) half of subscriber earn > 100000 = P (10) = 0.0020314

    iii) 5 or fewer = P(0) + P(1) + P(2) + P(3) + P(4) = 0.6296483



    b) Expected no of subscriber = np = 20 * 0.2 = 4

    c) Std deviation σ = √ n * p * (1-p)

    So variance = (σ ^2) = n * p * (1-p) = 20 * 0.2 * 0.8 = 3.2

    Thanks for all your help!

  4. #4
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    5 or fewer = P(0) + P(1) + P(2) + P(3) + P(4) = 0.6296483


    Just add P(5) to your answer in a) iii) and you're all set. What you answered here was "fewer than 5."

    Good job.

  5. #5
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    Brill!!! Thanks heaps ey!

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