Question

Trevor is interested in purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana. After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 65% of the business days it is open. Estimate the probability that the store will gross over $850 for the following. (Round your answers to three decimal places.)

a) at least 3 out of 5 business days b) at least 6 out of 10 business days c) fewer than 5 out of ten business days d) fewwer than 6 out of teh next 20 business days

I need help solving this on a TI-84 plus I keep trying to do binocdf but I am not sure what to put in

Answer 1

a)

from ti-84:

here press 2nd -vars -binomcdf function ; put trails :5 ; p : 0.65 ; x values :2 paste ; you will get 0.235169375

this is probability at most 2 out of 5 business day

hence P(at least 3 out of 5 business days) =1-0.235169375=0.764830625

b)

as above P(at least 6 out of 10 business day)=1-binomcdf(10,0.65,5)=0.751495509

c)

P( fewer than 5 out of ten business days)=binomcdf(10,0.65,4) =0.09493408

d)

Pfewwer than 6 out of teh next 20 business day) =binomcdf(20,0.65,5)=0.000310575

( please revert)