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According to a Department of Labor report, the city of Lancaster had a 20% unemployment rate...

  1. According to a Department of Labor report, the city of Lancaster had a 20% unemployment rate in May of last year. Eight working-age residents were chosen at random. Use Excel functions to compute the probabilities. Write the Excel function you used in your solution.
  1. What is the probability that exactly one of the residents was unemployed?
  2. What is the probability that at least two of the residents were unemployed?
  3. What is the probability that exactly four residents were unemployed?
  4. What was the expected number of unemployed residents, when eight working-age residents were randomly selected? What is the standard deviation?
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