. Using part b to guide you, use @RISK to find the probability that a random number from this distribution will be greater than 17. Check your answer by using the BINOM.DIST function appropriately in Excel. Prob (X > 17)
Use @RISK to draw a binomial distribution that results from 50 trials with probability of success 0.3 on each trial, and use it to answer the following questions. If needed, round your solutions to three decimal digits.
a. What are the mean and standard deviation of this distribution?
| Mean | |
| Standard Deviation |
b. You have to be more careful in interpreting @RISK probabilities with a discrete distribution such as this binomial. For example, if you move the left slider to 11, you find a probability of 0.139 to the left of it. But is this the probability of "less than 11" or "less than or equal to 11"? One way to check is to use Excel's BINOM.DIST
= 0.139
c. Using part b to guide you, use @RISK to find the probability that a random number from this distribution will be greater than 17. Check your answer by using the BINOM.DIST function appropriately in Excel.
Prob (X > 17) =
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Use @RISK to draw a triangular distribution with parameters 200, 300, and 600. Then superimpose a
a. What are the 5th and 95th percentiles for these two distributions? If needed, round your solutions to one decimal digit.
| Distribution | ||||
| Percentile | Triangular | Normal | ||
| 5th | ||||
| 95th |
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