Suppose that 24% of companies in a certain sector of the economy have announced plans to expand in the next year (and the other 76% will not). In a sample of 8 companies chosen at random from this population. If the random variable X is binomially distributed. Find the probability that the number of companies which have announced plans to expand in the next year will be (i) precisely three, (ii) fewer than three.
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Suppose that 24% of companies in a certain sector of the economy have announced plans to expand in the next year (and the other 76% will not). In a sample of 8 companies chosen at random from this population. If the random variable X is binomially distributed. Find the probability that the number of companies which have announced plans to expand in the next year will be (i) precisely three, (ii) fewer than three.
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