Given a Binomial Random Variable with N = 20 and P

question 37

Short Answer

Given a binomial random variable with n = 20 and p = 0.6, find the following probabilities using the binomial table.
a. P(X  13).
b. P(X  15).
c. P(X = 17).
d. $P ( 11 < X < 14 )$

---

Definitions:

Variable Costs

Costs that change in proportion to the level of production or sales, such as raw materials and direct labor.

Activity Level

A measurement of the volume of production or the quantity of services provided.

Activity Bases

Measures that assign costs to cost objects based on their use of activities; used in activity-based costing.

Mixed Cost

A cost consisting of both fixed and variable components and changes in response to variations in production or sales levels.