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BINOMIAL PROBABILITIES Big Box Store (BBS) has an annual rate of 4% of all sales being...

BINOMIAL PROBABILITIES Big Box Store (BBS) has an annual rate of 4% of all sales being returned. In a recent sample of thirty randomly selected sales the number of returns was five. BBS is concerned about the event, and your advice is solicited. FOR 4 – 9, OPEN THE EXCEL EXAM TWO FILE. THE SPREADSHEET FOR THIS PROBLEM IS FOUND ON SHEET TWO. COMPLETE AND SAVE YOUR WORK IN EXCEL AND ENTER THE SOLUTIONS BELOW. (4) (2.5 points) What is the probability that a random sample of 30 sales has 5 returns? Type the answer and any work below.

Math   Statistics-And-Probability   
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the observation is first inspected empirically then the required probability is determined with possible interpretation.

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