Compute Probabilities of Binomial Experiments

question 42

Multiple Choice

Compute Probabilities of Binomial Experiments
-Fifty percent of the people that use the Internet order something online. Find the probability that only four of 8 Internet users will order something online.

• A) 0.273
• B) 0.500
• C) 0.004
• D) 4.375

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Definitions:

Exchange Value

The worth of a good or service as determined by the market, or the amount of goods and services that can be exchanged for it.

Bretton Woods System

An international monetary system established in 1944 that set up fixed exchange rates anchored by the U.S. dollar, which was convertible to gold.

Pegged Exchange Rates

An exchange rate regime where a country's currency value is fixed or tied to another currency or a basket of currencies.

U.S. Dollars

The official currency of the United States, widely used as a benchmark and reserve currency around the world.