​% of consumers believe that cash will be obsolete in the next 20 years. Assume that consumers are randomly selected. Find the probability that fewer than of the selected consumers believe that cash will be obsolete in the next 20 years.

Answers

Answer 1

Using the binomial distribution, it is found that there is a 0.4113 = 41.13% probability that fewer than 3 of the selected consumers believe that cash will be obsolete in the next 20 years.

For each consumer, there are only two possible outcomes, either they believe cash will be obsolete in the next 20 years, or they do not believe it. The belief of each customer is independent of any other customers, hence the binomial distribution is used to solve this question.

What is the binomial distribution formula?

The formula is:

[tex]P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}[/tex]

[tex]C_{n,x} = \frac{n!}{x!(n-x)!}[/tex]

The parameters are:

x is the number of successes.n is the number of trials.p is the probability of a success on a single trial.

Researching the problem on the internet, we have that:

40.4% of consumers believe that cash will be obsolete in the next 20 years, hence p = 0.404.7 customers are surveyed, hence n = 7.

The probability that fewer than 3 of the selected consumers believe that cash will be obsolete in the next 20 years is given by:

[tex]P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2)[/tex]

In which:

[tex]P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}[/tex]

[tex]P(X = 0) = C_{7,0}.(0.404)^{0}.(0.596)^{7} = 0.0267[/tex]

[tex]P(X = 1) = C_{7,1}.(0.404)^{1}.(0.596)^{6} = 0.1268[/tex]

[tex]P(X = 2) = C_{7,2}.(0.404)^{2}.(0.596)^{5} = 0.2578[/tex]

Then:

[tex]P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2) = 0.0267 + 0.1268 + 0.2578 = 0.4113[/tex]

There is a 0.4113 = 41.13% probability that fewer than 3 of the selected consumers believe that cash will be obsolete in the next 20 years.

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Related Questions

Find the perimeter of the following shape, rounded to the nearest tenth: shape abcd is shown. Point a is at negative 3, 5. Point b is at 1, 7. Point c is at 3, 3. Point d is at negative 1, 1. 12 13. 9 17. 9 20.

Answers

Answer:

The answer is 17.9

Explanation:

First, set up the distance formula. I recommend using Point A and Point B but you can use Point C and Point D if you want.

Next, add in the x and y coordinates.

[tex]\sqrt{(1 - -3)^2 + (7 - 5)^2}[/tex]

[tex]\sqrt{16 + 4}[/tex]

[tex]\sqrt{20} = 4.47[/tex]

Finally, multiply 4.47 by 4 to get 17.88 and then round to the nearest tenth, which is 17.9.

Hope this helps. :)

A club has 25 members, 20 boys and 5 girls. Two members are selected at random to serve as president and vice president. What is the probability that both will be girls?.

Answers

The probability that both will be girls is 1/30.

What is probability?

Probability is a branch of mathematics that deals with the numerical description of how likely an event will occur or not.

To find the probability of both girls as president and vice president, first, we need to find the probability of picking a girl as the president and then also find the probability of picking a girl as the vice president and multiply both together.

The probability of picking a girl as the president(Pr(pres) = Total numbers of girls(n)/Total members in the club(M)Pr(pres) = n/M............Equation 1

From the question,

Given:

M = 25 n = 5

Substitute into equation 1

Pr(Pres) = 5/25Pr(Pres) = 1/5.

Also, we need to find the probability of selecting a girl as the vice president.

Pr(v.p) = (n-1)/(M-1)

Where:

Pr(v.p) = Probability of selecting a girl as the vice president
Pr(v.p) = (5-1)/(25-1)Pr(v.p) = 4/24Pr(v.p) = 1/6

Finally,

The probability that both will be girls is = (1/5)(1/6)The probability that both will be girls = 1/30

Hence, The probability that both will be girls is 1/30.
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Based on the underlined words in the text, what inference can be made about the author’s perspective? female authors are reserved, so they prefer to remain anonymous. Society discriminates against women, so female writers often hide their identity. Judith shakespeare did not face the same challenges as other women of her era. Female authors are just as talented as male authors, and they get equal recognition.

Answers

Answer:

TheTheTheTanswer correct answer is B, Society discriminates against women, so female writers often hide their identity.

Explanation:

Answer:

B) Society discriminates against women, so female writers often hide their identity.

Explanation:

got it right on edge

What is the underlying theme of the poem three words of strength brainly.

Answers

The theme is all about  words of encouragement that is used to heal our divided and conflicted world.

What is the Three Words of Strength” about?

The poem Three Words of Strength” is known to be written by Friedrich von Schiller. The words of strength are Defense, Physical Fitness and been Brave.

The words of encouragement is said to be another word for emotional support.

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Worldwide​ wholesalers, inc. Has decided that instead of having its employees manage its raw materials​ inventory, it will pay its suppliers to store and deliver the products as needed. What action has worldwide​ taken?.

Answers

The action that has to be taken by worldwide to pay his suppliers to store and deliver the products as needed is Outsourcing.

What is Outsourcing?

Outsourcing  can be regarded as a business practice of contracting outside the organization for benefits as well as  making of products.

Outsourcing serves as a cheap way to get labor and other services needed in an organization.

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What is the correct order of color from hottest star to coldest?.

Answers

Answer:

blue, white, yellow, red.

Explanation:

Yellow stars are hotter than red stars. White stars are hotter than red and yellow. Blue stars are the hottest stars of all.

hope this helps.

The mood of the men in this passage is best described as:.

Answers

Answer:

Where's the passage :)

Explanation:

In sentence 9 (reproduced below), which version of the underlined text best maintains the tone of the passage? partly because viral content often makes people get all weepy, social media has also provided powerful fund-raising opportunities.

Answers

The version of the underlined text best maintains the tone of the passage is that has a strong emotional appeal.

What is a strong emotional appeal?

An emotional appeal is known to be often used when one is said to manipulate of the emotions instead of the use of valid logic to win an argument.

An  Emotional appeal is regarded as a logical fallacy, that a debater often use to win an argument by trying to get an emotional feedback from the opponent or audience.

See options below

as it is now

hits people right in the stomach

manipulates people’s emotions

has a strong emotional appeal

wrings tears from its viewers

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Which state had the largest latino population in 2000?.

Answers

Answer:

Hispanic origin groups were concen- trated in different states. The largest Mexican populations (more than a million) were in California, Texas, Illinois and Arizona, mostly south- western states.

Explanation:

hope it will help you have a great day bye and Mark brainlist if the answer is correct

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#carry on learning

Answer:

New Mexico

Explanation:

Hispanics made up the largest share of the population of New Mexico, accounting for more than two in five residents, while they made up about one-third of the population of both California and Texas.

Which of the following was a consequence of britain’s policy of appeasement?.

Answers

Answer: C. Stalin and Hitler signed ….

Explanation: i just took the test.

The nurse says the letter r is the name of this animal.

Answers

The story of Romeo and Juliet is a very interesting One. The nurse says the letter r is the name of the dog.

What does the letter “R.” meant?

In the story of Romeo and Juliet , When the nurse delivered the letter to Romeo, Romeo ask the Nurse what the letter “R.” meant in the context of what they were discussing about What Rosemary and Romeo in the later means.

The Nurse told Him that that was the Dog and They both (Rosemary and Romeo) are very important to Juliet.

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Melissa drives her car with a constant speed of 74 miles per hour. How far can she travel in 4 hours?.

Answers

74*4=296
Just multiply number of hrs by the speed to get each answer:)

Mitosis is part of the cell cycle and includes all of the following steps except which one?.

Answers

Answer:

In cell biology, mitosis (/maɪˈtoʊsɪs/) is a part of the cell cycle in which replicated chromosomes are separated into two new nuclei. Cell division gives rise to genetically identical cells in which the total number of chromosomes is maintained. Therefore, mitosis is also known as equational division. In general, mitosis is preceded by S phase of interphase (during which DNA replication occurs) and is often followed by telophase and cytokinesis, which divides the cytoplasm, organelles and cell membrane of one cell into two new cells containing roughly equal shares of these cellular components. The different stages of mitosis altogether define the mitotic (M) phase of an animal cell cycle—the division of the mother cell into two daughter cells genetically identical to each other.

Explanation:

Hope this helps! :)

AGAIN AGAIN and AGAIN

Answers

Answer:

The answer is D

Explanation:

4 ways in which you can address the identified socio economic factors to achieve your goal.

Answers

The four ways to address the socioeconomic factors to achieve one's goal are;

Get sufficient active and passive income streams.Get quality Education.Be conscious of age barriers.Ensure community safety and get social support.

Socioeconomic factors and the limitations they pose

A series social and economic factors, including income, education, employment, community safety, and social supports can significantly influence how well and how fast one's goals are achieved. These factors affect our ability to create wealth, make healthy choices, afford medical care and housing, manage stress, and more.

Read more on socioeconomic factors;

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How many liters of 0. 1107 m kcl(aq) contain 15. 00 g of kcl?.

Answers

[tex]\huge \underline\frak \red{Answer}[/tex]

number of moles

N = sample mass/molar mass

N= 0.1107/74.6

N= 0.2010 moles of KCL

therefore

molarity = moles/volume

0.1107 = 0.2010/V

V = 0.2010/0.1107

V = 1.815L

What words did the author use to show that they were looking forward to eat the hopia.

Answers

Answer:

here

Explanation:

The author uses historical evidence to claim them by:

"They use secondary-source quotations to show the plan that the commanders devised in Alligator Woods in August of 1791"

Further Explanation

Historical comparison is one of the qualitative research methods that examine aspects of social life that occurred in the past or that occurred in different cultures. Historical comparisons are often used as one of the most effective methods to examine how social change occurs and to look for basic traits that are common to society.

In comparison, there are many things that need to be done, namely making a clear concept, looking for facts (historical evidence) in the field, evaluating the facts obtained, organizing and uniting these facts, and writing the facts in the research report.

Broadly speaking, there are four types of facts '(historical evidence)' which are divided into primary sources, secondary sources, current records, and recollections. which will be explained as follows:

Primary sources are qualitative or quantitative data about events or social life in the past that were created and used in past periods, can be in the form of photos, films, newspapers, etc.

- Recollection is a person's argument or writing about his life based on his past or memory.

-The walking record uses pre-existing statistical research based on files, records or documents.

Secondary sources are qualitative and quantitative data used in historical research, which can be information about past events and settings written by historians not directly involved in the research.

In the text above, the writer explains that historical evidence is in the text that emphasizes the past, namely "August 1791"

Learn More

historical evidence brainly.com/question/11938330, brainly.com/question/11790452

Details

Class: Middle School

Subject: English

Keywords: historical evidence...

The ph of a particular solution is given by mc031-1. Jpg, where x represents the concentration of the hydrogen ions in the solution, in moles per liter. Which graph models the ph of this solution?.

Answers

Answer:

The answer is the first graph

Explanation:

(a)

Answer:

A. the first graph

Explanation:

:)

This organ provides more than one function to the plant. Which of the following is a function of this organ illustrated in the picture?.

Answers

The organ function of plant often differs. Since the image is not attached, a general definition is given.

What is Plant Organ and Systems?

Vascular plants are known to have two types of organ systems. They are;

A shoot system.A root system.

The shoot system is made up of stems, leaves, and also the reproductive parts of the plant.

The shoot system is made up of the parts that grows above ground, where it tends to take in light that is needed by the plant for photosynthesis.

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Listen to the audio and then answer the following question. Feel free to listen to the audio as many times as necessary before answering the question. Who is most likely speaking? el maestro de español el maestro de inglés el maestro de anatomía el maestro de matemáticas.

Answers

The teacher who is speaking in the audio can be easily identified if we identify key terms that give us clues about their area of specialized knowledge.

How to identify the teacher from the audio?

To obtain accurate information from an audio, what we must do is listen carefully and pay attention to every detail that is mentioned in the audio.

In this case it is a professor of a particular area. To identify what it is, we must associate each area of knowledge with specific terms such as:

Spanish - Spanish words.English - verbs, structures and words in English.Anatomy - bones, muscles, body parts, among others.Mathematics - symbols, operations, equations, formulas, among others.

Note: This question is incomplete because the audio is missing. However I can answer it based on my prior knowledge.

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Answer:

C

Explanation:

Two years ago your orange orchard contained 70 trees, and the yield per tree was 70 bags of oranges. Last year you removed 10 of the trees and noticed that the yield per tree increased to 75 bags. Assuming that the yield per tree depends linearly on the number of trees in the orchard, what should you do this year to maximize your total yield?.

Answers

The number of trees that maximizes the yield is 105, so he should plant another 45 trees.

How to maximize the yield?

We know that the yield depends linearly on the number of trees. Remember that a linear relation is written as:

y = a*x + b

Where a is the slope and b is the y-intercept.

And we know that if a line passes through two points (x₁, y₁) and (x₂, y₂), then the slope can be written as:

[tex]a = \frac{y_2 - y_1}{x_2 - x_1}[/tex]

Here we have the two points:

(70 trees, 70 bags)

(60 trees, 75 bags)

Then the slope is:

[tex]a = \frac{7 bags - 75 bags}{70 trees - 60 trees} = -0.5 bags/tree[/tex]

Then the linear equation is, ignoring the units, something like:

y = -0.5*x + b

To find the value of b we can use one of the known points, for example, the first one.

(70, 70)

70 = -0.5*70 + b

70 = -35 + b

70 + 35 = b = 105

Then the linear equation is:

y = -0.5*x + 105

This gives the yield per tree, and the total yield for the x trees will be x times the above quantity, so we define the total yield as:

T = -0.5x^2 + 105*x

Notice that this is a quadratic equation with a negative leading coefficient, meaning that the maximum is at the vertex.

And for a general quadratic function a*x^2 + b*x + c the vertex is at:

x = -b/2a

So in our case, the vertex is at:

x = -105/(2*(-0.5)) = 105

So to maximize the total yield, he should plant 45 more trees, to get a total of 105 trees.

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According to theory, which phrase best describes the universe before the big bang?.

Answers

Answer:

how astronomers explain the way the universe began. It is the idea that the universe began as just a single point, then expanded and stretched to grow as large as it is right now—and it is still stretching!

Explanation:

how astronomers explain the way the universe began

THISS ONE ==

A mixture of he and ne at a total pressure of 0. 95 atm is found to contain 0. 32 mol of he and 0. 56 mol of ne. The partial pressure of ne is ________ atm.

Answers

Here is the explanation

Despite wilson working for the party, what can be inferred by him writing "down with big brother" over and over in his diary?.

Answers

It can be inferred that even if this character works for the party he does not support the party and is creating a plan to betray it.

Who is Winston in 1984?

Winston is the main character in the book 1984. He is a man that works in the records department of the only party that seems to dominate the world in a futuristic London.

This character has a diary and in it, he writes multiple times the words "down with big brother" referring to the leader of the party big brother.

What does this phrase show?

This phrase shows Winston does not support the party despite working for it. Moreover, this acts as anticipation of Winston later betraying the party.

Note: This question is incomplete because there is no information provided about the title of the story. Here is the missing information:

"1984" by George Orwell.

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Water does not appear in the equilibrium expression because it is a pure liquid. However, the addition of water to the equilibria in this lab can impact the equilibrium. Why does this happen?.

Answers

Answer:

The correct answer is: The addition of water will change the concentration of the substances in equilibrium.

What is the volume of this sphere? 8π cm³ 16π cm³ 27π cm³ 36π cm³.

Answers

Answer:

The question is incomplete. radius or diameter must be given

Answer:

I took the test. Hope this helps :)

Explanation:

Brock bought his house for $135,200. A local real estate agent predicts that the house will appreciate in value 5% each year. What will the value of brock’s house be in 25 years?.

Answers

The Appreciation of the house was resolved by applying the appreciation formula which took in Starting cost of the house, the rate and the Period

The final Value is $457827.76

Analysis of Appreciation

Give Data

Cost of House =  $135,200

Rate = 5%

Time = 25 years

Starting value =  $135,200

Appreciation rate = 5%

Period  = 25 years

Final value =??

Final Value = Starting value * (Appreciation rate + 1)^period

Substituting our given Data We have

Final Val = 135,200 * (5/100 + 1)^25

Final Val = 135,200 * (0.05 + 1)^25

Final Val = 135,200 * (1.05)^25

Final Val = 135,200 *3.3863

Final Val = $457827.76

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Let us calculate 5% of $135,200

Amount in increment = 5/100*135,200

Amount in increment = 0.05*135,200

Amount in increment =$6760

This means that every year

The density of salty solution of water as compared to the density of pure water is always.

Answers

Answer:

Average density at the surface is 1.025 kg/l. Seawater is denser than both fresh water and pure water (density 1.0 kg/l at 4 °C (39 °F)) because the dissolved salts increase the mass by a larger proportion than the volume.

Explanation:

What is most likely the author’s reason for telling the reader that, "not being a mandevillian," he/she may not appreciate or understand certain aspects of the story?.

Answers

The author’s reason for telling the reader that, "not being a mandevillian," he/she may not appreciate or understand certain aspects of the story is; To emphasize how foreign Mercer is.

Understanding an Author's Reason

This question is taken from the story called 'La Juanita' which is a short but colorful story that tells us about Mandeville which was a small town where regatta, the race of ships used to be held.

La Juanita from from the title is the name of a ship and at the same time the name of a girl whose beauty can hypnotize.

Now, in the story the author emphasized not being a mandevillian may make one not appreciate or understand certain aspects of the story. This was to show that captain Mercer Grangeman with her name and colors was foreign and could not understand the story.

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How would ""the lottery"" be different if told from mr. Summers’ point of view? the reader would learn more about the main conflict in the story. The reader would know more about when and where the story takes place. The reader would learn more about how mr. Summers feels about the lottery. The reader would know more about the other characters’ thoughts and feelings.

Answers

Answer:

C. the reader would learn more about how Mr. Summers feels about the lottery.

Explanation:

The term ""the lottery"" be different if the reader would learn more about how Mr. Summers feels about the lottery.

What does Mr Summers stands for in the lottery?

Summers is known to stand for life, alterations of seasons but Mr. Summers is said to be the opposite as he is known to often takes life away.

Conclusively, The term ""the lottery"" be different if the reader would learn more about how Mr. Summers feels about the lottery and thus they will be able to know why he carry out what he do.

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