According to a 2018 survey by Bankrate, 20% of adults in the United States save nothing for retirement (CNBC website). Suppose that sixteen adults in the United States are selected randomly. What is the probability that three or less of the selected adults have saved nothing for retirement

Answers

Answer 1

Answer:

0.5981 = 59.81% probability that three or less of the selected adults have saved nothing for retirement

Step-by-step explanation:

For each adult, there are only two possible outcomes. Either they save nothing for retirement, or they save something. The probability of an adult saving nothing for retirement is independent of any other adult. This means that the binomial probability distribution is used to solve this question.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

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

In which [tex]C_{n,x}[/tex] is the number of different combinations of x objects from a set of n elements, given by the following formula.

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

And p is the probability of X happening.

20% of adults in the United States save nothing for retirement (CNBC website).

This means that [tex]p = 0.2[/tex]

Suppose that sixteen adults in the United States are selected randomly.

This means that [tex]n = 16[/tex]

What is the probability that three or less of the selected adults have saved nothing for retirement?

This is:

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

In which

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

[tex]P(X = 0) = C_{16,0}.(0.2)^{0}.(0.8)^{16} = 0.0281[/tex]

[tex]P(X = 1) = C_{16,1}.(0.2)^{1}.(0.8)^{15} = 0.1126[/tex]

[tex]P(X = 2) = C_{16,2}.(0.2)^{2}.(0.8)^{14} = 0.2111[/tex]

[tex]P(X = 3) = C_{16,3}.(0.2)^{3}.(0.8)^{13} = 0.2463[/tex]

[tex]P(X \leq 3) = P(X = 0) + P(X = 1) + P(X = 2) + P(X = 3) = 0.0281 + 0.1126 + 0.2111 + 0.2463 = 0.5981[/tex]

0.5981 = 59.81% probability that three or less of the selected adults have saved nothing for retirement


Related Questions

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Which statement about all expressions is true? A All expressions contain only numbers. B All expressions are mathematical statements with an equal sign. C All expressions contain variables. D All expressions are mathematical phrases with no equal sign.​

Answers

Answer:

c

Step-by-step explanation:

Answer:

36 - 4

Step-by-step explanation:

(6x - 2)(6x + 2)

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Step-by-step explanation:



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Answers

Answer:

Square root of 72 is 8.48.

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y = x2 – 3x + 2
use the discriminant to determine the number of solutions​

Answers

Answer:

2 real solutions

Step-by-step explanation:

The formula for determining the discriminant is b² - 4ac.

So, let's identify our variables.

a = 1

b = 3

c = 2

Now, we can plug in our values.

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1

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Mj3mar gave the answer thanks to him I wouldn’t have got my question right

Suppose that you are examining the difference in ages between brides and grooms. You are interested in conducting a significance test to examine to address the theory that the bride is younger than the groom in more than half of all marriages. A sample of 100 couples were observed, for which 67 had a bride younger than the groom.
whats is the parameter? .
Step 2: The null hypothesis and alternative hypothesis?
Step 5: whats the p-value is:

Answers

Answer:

Parameter = 0.5

Null hypothesis : H0 : P0 = 0.5

Alternative hypothesis ; H0 : P0 > 0.5

Pvalue = 0.99966

Step-by-step explanation:

The parameter defines a statistical value or calculation which is derived from the population.

The parameter in this scenario is the population proportion, P0 which is 0.5

The scenario above describes a scenario to test the difference in population.

The null hypothesis, that bride and groom are of the same age ;

H0 : P0 = 0.5

The alternative hypothesis ; the bride is younger Than the groom in more than half of the population.

H1 : p0 > 0.5

To obtain the Pvalue :

Test statistic : (phat - P0) ÷ √(p0(1 -p0) / n)

Phat = x/n

x = 67 ; sample size, n = 100

Phat = x / n = 67/100 = 0.67

P0 = 1 - 0.5 = 0.5

Tstatistic = (0.67-0.50) ÷ √(0.5(0.5) / 100)

Tstatiatic = 0.17 ÷ 0.05

Tstatistic = 3.4

P-value : p(Z < 3.4) = 0.99966 (Z probability calculator).

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Answers

A
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Answer:

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Step-by-step explanation:

Answer:

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Answer:

For the y=1/3x^2+2 the answer is For the second  one y=-1/7x^2+12 the answer is

Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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Answers

Answer:

8.88 square mm

Step-by-step explanation:

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Factorise fully:
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Answers

Answer:

so im unsure if the (2) is in the equation so i have two answers

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Step-by-step explanation:

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Answers

Answer:

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Answers

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Step-by-step explanation:

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3) Top x Bottom=  15 x 5 x2 = 150

4) Add. 150 + 210 + 70 = 430 cm²

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Answers

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Step-by-step explanation:

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Answers

Answer:

Total number of pupils who received the prize = 10

Step-by-step explanation:

Number of boys in the Math Quiz Competition = 40

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Step-by-step explanation:

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Step-by-step explanation:

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Answers

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Answers

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Step-by-step explanation:

Hope this helps!

1. A chess set has 32 pieces, 16 black and 16 white. In each color, there
are 8 pawns, 2 rooks, 2 Knights, 2 bishops, 1 queen and 1 king.

a. Find the probability that a piece selected at random is a white rook.
Explain how you found your answer.

b. How many ways can you choose one white piece and one black
piece? Explain how you found your answer.

c. How many ways can you choose 3 pieces from the 4 kings and
queens (black king, white king, black queen, white queen) to place
on 3 specific spaces on the chessboard? Is this a permutation or a
combination? Explain.

I REALLY NEED HELP WITH THESE AND FAST.

Answers

Answer:

I believe the answer is A.

Step-by-step explanation:

I don't really know how to really explain it tho

a. The probability that a piece selected at random is a white rook is 1/16.

b. 256 ways can you choose one white piece and one black piece.

c. 8 ways can you choose 3 pieces from the 4 kings and queens to place on 3 specific spaces on the chessboard.

Given that, a chess set has 32 pieces, 16 black and 16 white. In each colour, there are 8 pawns, 2 rooks, 2 knights, 2 bishops, 1 queen and 1 king.

What is the formula to find the probability of an event?

The formula to find the probability of an event is P(E)=Number of favourable outcomes/Total number of outcomes.

a. The probability that a piece selected at random is a white rook

=2/32=1/16

Therefore, the probability that a piece selected at random is a white rook is 1/16.

b. Number of ways can you choose one white piece and one black

piece=16×16=256

Each white piece can go with a black piece 16 times and the same the other way.

Hence, 256 ways can you choose one white piece and one black piece.

c. nPr=P(4,3)=4!/3=24/3=8 ways.

Hence, 8 ways can you choose 3 pieces from the 4 kings and queens to place on 3 specific spaces on the chessboard.

This is a permutation.

a. The probability that a piece selected at random is a white rook is 1/16.

b. 256 ways can you choose one white piece and one black piece.

c. 8 ways can you choose 3 pieces from the 4 kings and queens to place on 3 specific spaces on the chessboard.

To learn more about the permutation visit:

https://brainly.com/question/1216161.

#SPJ2

18 times 200 is how much


dont actually answer i just wanna talk

Answers

18 time 200 is 3600 that's it

Answer:

hey lily its Josh i just wanted to say im sorry for not talking to yu but i do still love and miss yu nd be careful ok and we need to catch up whenever ur free

Step-by-step explanation:

Please help for brainliest
No files!
10 points!

Answers

hi! so you just divide the amount of money by the nights and which ever is the lowest number that’s the cheapest motel hope that helps<3

Answer:

Simple division

Step-by-step explanation:

Take each total price and divide it by the number of nights stayed. Once you have your answer to all three, compare and the lowest number is your answer.

austin bought a new car for $35,000. the car decreases in value 4% every year. how many years will it take for the cars value to be $20,000?

Answers

Answer:

2 years

bbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbb

B
15. x =
106
(10x -23)
D

Answers

9514 1404 393

Answer:

  x = 15

Step-by-step explanation:

Chords equidistant from the circle center subtend the same arc measure. The sum of the three arcs of the circle is 360°, so you can write the relation ...

  2(10x -23)° +106° = 360°

  2(10x -23) = 254 . . . . . . . . divide by °, subtract 106

  10x -23 = 127 . . . . . . . . . divide by 2

  10x = 150 . . . . . . . . . . add 23

  x = 15 . . . . . . . . . . . divide by 10

PLS HELP Find the value of x .

Answers

the answer is 6

8+10=18

12+?=18

12+6=18

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