Compute Probabilities of Binomial Experiments

question 141

Multiple Choice

Compute Probabilities of Binomial Experiments
-A history professor decides to give a 10-question true-false quiz. She wants to choose the passing grade such that the probability of passing a student who guesses on every question is less than 0.10. What score should be set as the lowest passing grade

• A) 8
• B) 6
• C) 9
• D) 7

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Definitions:

Consumer Surplus

The discrepancy between what consumers are prepared and capable of paying for a product or service compared to what they end up spending.

Willingness to Pay

The maximum amount a buyer is prepared to spend on a good or service, reflecting the value they derive from it.

Consumer Surplus

The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay.

Graphing Calculator

A handheld device capable of plotting graphs, solving simultaneous equations, and performing other tasks with variables.