(Answered) Asume a binomial probability distribution has p 50 and n

Finance

Assume a binomial probability distribution has p = .50 and n = 150.

a) What are the mean and standard deviation?

b) Is this situation one in which binomial probabilities can be approximated by the normal probability distribution? Explain.

c) What is the probability of 65 to 75 successes?

d) What is the probability of 85 or more successes?

e) What is the advantage of using the normal probability distribution to approximate the binomial probabilities? Use part (d) to explain the advantage.

Assume a binomial probability distribution has p = .50 and n = 150.

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