Question

5.2.17-T Question He A budgeting Web site reported that 30% of U.S. households have withdrawn money from a 4010k) or other retirement account for needs other than retirement in 2013. A random sample of 11 U.S households was selected Complete parts a through e below. a. What is the probability that exactly four households withdrew funds from a retirement account for needs other than retirement? The probability is Round to four decimal places as needed.) Enter your answer in the answer box and then click Check Answer

Answer 1

Solution:

n = 11

p = 30% = 0.30

binomial probabilitydistribution

Formula:

P_{(k out of n )}= n!*p^k * q^n-k / k! *(n - k)!

( a )

P( x = 4 ) = 4!*0.30⁴ * 0.70^11-4 / 4! *(11 - 4)! = 0.2201