Current unemployment rate of young college graduates is abou

Current unemployment rate of young college graduates is about 10% (probability 0.10).

Find the probability that in 12 randomly selected young college graduates 2 will be unemployed.

(use Binomial Distribution Table given in Appendix).

Solution

Binomial Probability = nCr * (p)^r * (1-p)^(n-r)

Here, n=12 ; r=2 ; p = 0.1

Therefore,

P(X=2 )= 12C2 *(0.1)^2 * (1-0.1)^10 = 0.2301 Answer