Approximate Binomial Probabilities Using the Normal Distribution

question 114

Short Answer

Approximate Binomial Probabilities Using the Normal Distribution
-The failure rate in a German class is 30%. In a class of 50 students, find the probability that exactly five students will fail. Use the normal distribution to approximate the binomial distribution.

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Definitions:

Time Horizon

The length of time over which an investment, project, or strategic decision is expected to yield results or be evaluated.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone and is used to generate and prioritize ideas.

Critical Incident Technique

A method used in organizational development and research to gather significant actions or events that have impacted a project or outcome, for the purpose of learning and improvement.

Delphi Technique

The Delphi Technique is a structured communication method used for systematic interactive forecasting by experts of the likelihood and outcome of future events.