Probability using Binomial distribution.
A recent study conducted by Penn, Shone, and Borland, on behalf of LastMinute.com, revealed that 52 percent of business travellers plan their trips less than two weeks before departure. The study is to be replicated in the tri-state area with a sample of 12 frequent business travellers.
a. Develop a possibility distribution for the number of travellers who plan their trips within two weeks of departure.
b. Find the mean and the standard deviation of this distribution.
c. What is the likelihood exactly 5 of the 12 selected business travellers plan their trips within two weeks of departure?
d. What is the possibility 5 or fewer of the 12 selected business travellers plan their trips within two weeks of departure?