Approximate the following binomial probabilities by the use of normal approximation. Eight percent of customers of a bank keep a minimum balance of 500 in their checking accounts. What is the probability that in a random sample of 100 customers
a. exactly 6 keep the minimum balance of 500?
b. exactly 11 keep the minimum balance of 500?
c. 6 or fewer keep the minimum balance of 500?
d. 5 or more keep the minimum balance of 500?
e. 10 or fewer keep the minimum balance of 500?
f. 11 or fewer keep the minimum balance of 500?
Question 2
In a residual plot against x that does not suggest we should challenge the assumptions of our regression model, we would expect to see a
a. horizontal band of points centered near zero.
b. widening band of points around the x-axis.
c. band of points having a slope consistent with that of the regression equation.
d. parabolic band of points centered at the origin.
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