Approximate Binomial Probabilities Using the Normal Distribution

question 82

Short Answer

Approximate Binomial Probabilities Using the Normal Distribution
-A local rental car agency has 100 cars. The rental rate for the winter months is 60%. Find the probability that in a given winter month fewer than 70 cars will be rented. Use the normal distribution to approximate the binomial distribution.

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Definitions:

MARS Model

A framework identifying four critical factors—Motivation, Ability, Role Perceptions, and Situational factors—that determine an individual's work performance.

Schwartz's Model

A theory of human values that identifies ten broad motivational types of values, showing how they are related and influence individual behavior.

Distributive Justice

Refers to perceptions of fairness in the allocation of resources and outcomes within social and organizational contexts.

Goal-Directed

Activities or behaviors that are initiated with the intention of achieving a specific objective or outcome.