Question

Assume that a procedure yields a binomial distribution with a trial repeated n=9n=9 times. Use either the binomial probability formula (or technology) to find the probability of k=3k=3 successes given the probability p=0.27p=0.27 of success on a single trial.
(Report answer accurate to 4 decimal places.)
P(X=k)=P(X=k)= ________

A company prices its tornado insurance using the following assumptions:
• In any calendar year, there can be at most one tornado.
• In any calendar year, the probability of a tornado is 0.15.
• The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year.
Using the company's assumptions, calculate the probability that there are fewer than 2 tornadoes in a 23-year period.

____________  

Answer 1