Estimating Probability value using Binomial and Normal Distribution.
1) It has been estimated that 30 percent of all farms are family-owned. In a sample of 12 farms, what is the probability that accurately three farms are family owned?
2) The length of time it takes to be seated at a local restaurant on Friday night is normally distributed with a mean of 15 minutes and a standard deviation of 4.75. What is the likelihood that you have to wait more than 20 minutes to be seated?
3) The time it takes to assemble an electronic component is normally distributed with a mean of 17.2 minutes and a standard deviation of 3.1 minutes. The probability is 95% that it will take as a minimum how long to assemble a component?
4) The number of students using the atm on campus daily is normally distributed with a mean of 237.6 and a standard deviation of 26.3. For a random sample 55 days, what is the likelihood that atm usage averaged more than 230 students per day?