In a 2010 survey 58 of Generation Y GenY adults were found t

In a 2010 survey, 58% of Generation Y (GenY) adults were found to pay their monthly bills on time.

Suppose a new sample of 50 people from GenY is chosen. What is the probability that at most 25 of them pay their monthly bills on time?

Solution

P(<= 25/50) = 50C0 (0.42)^50 50C1 * 0.58 *(0.42)^49 + .......... 50C25 (0.42)^25 * (0.58)^25 = 9.10*10^-5

In a 2010 survey, 58% of Generation Y (GenY) adults were found to pay their monthly bills on time. Suppose a new sample of 50 people from GenY is chosen. What i

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