Question

The Bank of Winter Park has studied customer behavior. It is known that the probability a customer entering the bank has a savings account is 0.35. Of the next 14 customers, what is the probability that exactly 6 have savings accounts? Round to 2 decimal places.

Answer 1

Solution:

Given:

p =  the probability of a customer entering the bank has a savings account =  0.35

n = Number of customer selected = 14

X = Number of customer entering the bank has a savings account follows a Binomial distribution with parameters
n = 14 and p = 0.35.

Find:

P(X = 6) = ............?

Binomial probability formula :

Where q = 1 – p = 1 - 0.35 = 0.65

thus