Given a Binomial Random Variable with N = 15 and P

question 137

Essay

Given a binomial random variable with n = 15 and p = .40,find the exact probabilities of the following events and their normal approximations.
a.X = 6
b.X ≥ 9
c.X ≤ 10

---

Definitions:

Protection

Measures taken to safeguard something or someone against harm or damage.

Life Insurance

A contract between an insurer and a policyholder in which the insurer pays a designated beneficiary a sum of money upon the death of the insured person.

Floater Policy

A policy that insures property that cannot be covered by specific insurance because the property is constantly changing in either value or location.

Property

Items, assets, or possessions owned by an individual or entity, including tangible and intangible forms.