Binomial probability solution

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Reference no: EM13100097

In the past few years out sourcing over seas has become more frequently used than before by U.S. companies. However, out souring is not with out problems. A recent survey indicates that 20% of the companies that outsource over seas use consultant. Suppose 7 companies that outsource are selected randomly (use formula)

a. What is the probability that exactly five companies that outsource overseas use a consultants.

b. What is the probability that 5 or more companies use consultants?

c. Calculate the expected value.

d. Calculate the standard deviation.

Reference no: EM13100097

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