A recent market study has determined that the probability that a young adult would be willing to try a new online financial service that your company is offering is 50%.In a random sample of 10 young adults, the probability that exactly 5 will be willing to try this new service is _________, and the approximate probability (using the normal distribution is)_________.
A)0.251; 0.246
B)0.246; 0.242
C)0.246; 0.248
D)0.249; 0.251
E)0.248; 0.246

Question

Quizplus · Accepted Answer

The probability of exactly 5 out of 10 trying the service is calculated using the binomial distribution formula, which gives 0.246. The normal approximation to the binomial distribution also gives approximately 0.248.

A Recent Market Study Has Determined That the Probability That