Question

One in four people in the u.s. owns individual stocks. you randomly select 12 people and ask them if they own individual stocks. find the probability that the number who say they own individual stocks is
a. exactly 2
b. at least 2 answer

Answer 1

B because 1/4 people own individual stocks. 1/4 of 12 is 3.

Answer 2

Probability of exactly P(2) or approximately 0.232293248

and probability of at least two men not zero or one

so we have P(x>2) =  1 - P(0) - P(1)

                              = 1-0.031676352-0.126705408

                 P(x>2) = 0.84

What is Probability?

Probability defines the likelihood of occurrence of an event. There are many real-life situations in which we may have to predict the outcome of an event. We may be sure or not sure of the results of an event. In such cases, we say that there is a probability of this event to occur or not occur.

Here,

p(S) = 1/ 4 for owning stock

p(N) = 3/4 for not owning stock.

Given the large population of the US we can assume that the probabilities for each of the 10 people are independent.

The probability that there are no stock owners in the sample

P(0) = $(3/4)^{12}$.

This is approximately 0.031676352

Using the binomial theorem,

The probability of one stock owner

P(1) = $12(1/4)(3/4)^{11}$

or more simply P(1) = $3(3/4)^{11}$

This is approximately 0.126705408

The probability of two owners is P(2) = $(12 X 11/2)(1/4)^2(3/4)^{10}$

which is approximately P(2) = 0.232293248.

Thus, Probability of exactly P(2) or approximately 0.232293248

and probability of at least two men not zero or one

so we have P(x>2) =  1 - P(0) - P(1)

                              = 1-0.031676352-0.126705408

                              = 0.84

Learn more about Probability from:

https://brainly.com/question/14210034

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