What is the probability that the stock has a return of at least ...

[elizabeth18]

What is the probability that the stock has a return of at least 8?
 
  What will be an ideal response?

Question 2

Suppose that 24 of all sales in a grocery store are for amounts greater than 100.
 
  In a random sample of 50 invoices, what is the probability that more than ten of the invoices are for over 100? Use the normal approximation for the binomial distribution.

[BAOCHAU2803]

Answer to Question 1

1 - (0.09 + 0.14 + 0.16 ) = 0.61

Answer to Question 2

P = 0.24, n = 50,  =E(X) = nP = 12, 2 = Var(X) = nP(1 - P) = 9.12,  = 3.02
Without continuity correction P(X > 10 ) = P(Z > -0.66 ) = 0.7454.

[elizabeth18]

TYSM

[kishoreddi]

Thanks for the timely response, appreciate it