Use the Normal Distribution to Approximate the Desired Probability

question 95

Multiple Choice

Use the normal distribution to approximate the desired probability.
-A coin is tossed 20 times. A person, who claims to have extrasensory perception, is asked to predict the outcome of each flip in advance. She predicts correctly on 11 tosses. What is the probability of being correct 11 or more times by guessing? Does this probability seem to verify her claim?

• A) 0.0871, yes
• B) 0.4129, no
• C) 0.4129, yes
• D) 0.0871, no

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Definitions:

Planning and Control

Planning and Control encompass the processes used by management to set goals, implement strategies, and ensure the organization's resources are used effectively and efficiently to achieve them.

Transfer Price

The price at which goods or services are sold between divisions within the same company.

External Market

The environment outside a business in which it operates, dealing with the supply, demand, and pricing of goods and services.

Variable Manufacturing Cost

Costs that vary directly with the level of production output, such as raw materials and direct labor.