Use binomial probability formula to calculate probibilities

Reference no: EM13126146

You and 50 coworkers decide to play a game that consists of flipping a coin once for each coworker. If the flip coin for the particular coworker results in a head, you have to pay them $1. If it results in tail, neither party has to pay anything. Given the information provided above, and assuming that the coin you are using is a far coin (i.e. the probability of getting a head or a is equal to 0.5) use Microsoft excel, as your graphing calculator, or the binomial probability formula to calculate the probibilities of the following events. Event A: The probability that you will have to oay out exactly $20. (In other words, the probability that 20 of the flips of the coin will result in heads.) Event B: The probability that you will not have to pay anyone anything. (In other words, the probability that none of the flips of the coin will result in heads.

Reference no: EM13126146

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