Provide an Appropriate Response

question 91

Essay

Provide an appropriate response.
-According to data from the American Medical Association, 10% of us are left-handed. Suppose groups of 500 people are randomly selected. Find the probability that at least 80 are left-handed. Describe the characteristics of this problem which help you to recognize that the problem is about a binomial distribution which you are to solve by estimating with the normal distribution. (Assume that you would not use a computer, a table, or the binomial probability formula.)

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Definitions:

Personal Use

The use of property or resources for individual needs or activities not related to business or profit-making.

Schedule C

Schedule C is a tax form used by sole proprietors to report their business income and expenses to the IRS.

Schedule E

Used by taxpayers to report income and losses from rental property, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.

Royalty Income

Income derived from the use of an individual’s or entity's property, such as patents, copyrighted works, or natural resources.