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# According to the Financial Planners Standards Council, 22% of certified financial planners (CFPs) earn between \$100,000...

According to the Financial Planners Standards Council, 22% of certified financial planners (CFPs) earn between \$100,000 and \$149,999 per year. Thirty-two percent earn \$150,000 or more. Suppose a complete list of all CFPs is available and 18 are randomly selected from that list.

a.  What is the expected number of CFPs who earn between \$100,000 and \$149,999 per year? What is the expected number who earn \$150,000 or more per year?

b.  What is the probability that at least eight CFPs earn between \$100,000 and \$149,999 per year?

c.  What is the probability that two, three, or four CFPs earn more than \$150,000 per year?

d.  What is the probability that none of the CFPs earn between \$100,000 and \$149,999 per year? What is the probability that none earn \$150,000 or more per year? Which probability is higher and why?

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