Fifty percent of Americans believed the country was in recession, even though technically the economy had...
Fifty percent of Americans believed the country was in recession, even though technically the economy had not shown two straight quarters of negative growth (Business Week, July 30, 2001). For a sample of 20 Americans. Compute the probability that at least 15 people believed that the country was in recession.
Homework Answers
Solution :
Given
n= = 20
p = 50% = 0.5
X ~ Binomial distribution
probability that at least 15 people believed that the country was in recession is 0.0207
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