You have just finished paying off your $35,125 loan, a feat which took ten years of quarterly payments. The loan had an interest
2 answers:
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Answer:
0.1199 = 11.99% probability that at least 5 of them did not finish the marathon
Step-by-step explanation:
For each runner, there are only two possible outcomes. Either they finished the marathon, or they did not. The probability of a runner completing the marathon is independent of any other runner. This means that the binomial probability distribution is used to solve this question.
Binomial probability distribution
The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.
In which is the number of different combinations of x objects from a set of n elements, given by the following formula.
And p is the probability of X happening.
97.4% finished:
This means that 100 - 97.4 = 2.6% = 0.026 did not finish, which means that
100 runners are chosen at random
This means that
Find the probability that at least 5 of them did not finish the marathon
This is:
In which
0.1199 = 11.99% probability that at least 5 of them did not finish the marathon