A survey by KRC Research for U.S. News reported that40% of people
plan to spend more on eating out afterthey retire. Suppose a random sample of 20
people are selected and the processfollows a binomial distribution, with p = 0.40
a. What is the expected value and standard deviation of thepeople in the sample who
plan to spend more on eating outafter they retire.
b. What is the probability that 8 or fewer in the sampleindicate that they plan to spend
more on eating out afterretirement?
c. What is the probability that at least 9 people (i.e. 9 ormore) in the sample indicate
that they plan to spend more oneating out after retirement?
