Problema recent gallup poll poll analyses may 22 2002, Ask an Expert

Accounting

Problem:

A recent Gallup poll (Poll Analyses May 22, 2002) revealed that 81% of Americans say they have a credit card. You randomly chose 12 Americans and ask if they have at least one credit card.

Required:

Question 1: Does this situation meet the binomial requirements? Why or why not? Address the five characteristics in the Key Points.

Question 2: What is the random variable in this problem? i.e., what does X represent and what values can it have?)

Question 3: What is the probability that exactly 9 have credit cards?

Question 4: What is the probability that 7 or fewer have credit cards?

Question 5: What is the probability that at least 10 have credit cards?

Question 6: What is the probability that at most 10 have credit cards?

Question 7: What is the mean number of adults out of a sample of 12 that you would expect to have credit cards? What is the standard deviation of the distribution?

Note: Please provide reasons to support your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91171857

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