Approximately 58 of baby boomers aged 43 to 61 are still in, Ask an Expert

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Approximately 58% of baby boomers aged 43 to 61 are still in the workforce (The Boston Globe, July 10, 2008). Twelve baby boomers are selected at random. Let X be a Binomial Random Variable.

a. What is the probability that exactly one of the baby boomers is still in the workforce?

b. What is the probability that at most six of the baby boomers are still in the workforce?

c. What is the probability that at least eight of the baby boomers are still in the workforce?

d. What is the expected number of baby boomers aged 43 to 61 who are still in the workforce?

e. Calculate the variance and the standard deviation for this probability distribution.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93101601

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